Guideline Value for Naidu Street

Naidu Street guideline value

The current guideline value of Naidu Street is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Adayar village, under the Adayar SRO, and is classified as Residential Special Type - II.

How the guideline value of Naidu Street has changed

The guideline value for Naidu Street has undergone several revisions over the years. In 2007, the value was set at Rs 3,000 per sq.ft, which increased significantly to Rs 8,500 per sq.ft in 2012, marking a rise of 183%. However, between 2012 and 2017, the value decreased to Rs 5,695 per sq.ft, a decline of 33%. The value then rose to Rs 8,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 9,400 per sq.ft, which is an 11% increase from the previous year.

It is important to note that the register has no figures for Naidu Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 213%.

Guideline values in Adayar

In Adayar village, there are 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with the median being Rs 6,100 per sq.ft. Naidu Street's 2024 guideline value of Rs 9,400 per sq.ft is above this median.

• Naidu Lane 2nd Street: Rs 6,100 per sq.ft (2024)
• Naidu Lane 1 Street: Rs 6,100 per sq.ft (2024)
• Naidu Street and 4th Main Road Extension (Kottur Garden): Rs 9,400 per sq.ft (2024)
• Naidu 4th Cross Street: Rs 6,100 per sq.ft (2024)
• Naidu 3rd Street: Rs 6,100 per sq.ft (2024)
• Naidu Street Balakrishnan Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, making the total fees Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Naidu Street?

The Sub Registrar Office that covers Naidu Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Adayar

The guideline value is a critical factor during the registration of property transactions in Adayar. It helps determine the stamp duty and registration fees that buyers and sellers must pay when completing a sale.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that both the government and the parties involved in the transaction are protected during the sale process.

Frequently asked questions

What is the current guideline value of Naidu Street?

The current guideline value of Naidu Street is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Naidu Street has increased from Rs 3,000 per sq.ft in 2007 to Rs 9,400 per sq.ft in 2024, representing an overall increase of 213%.

What are the other streets in Adayar with guideline values?

Other streets in Adayar include Naidu Lane 2nd Street and Naidu Lane 1 Street, both at Rs 6,100 per sq.ft, and Naidu Street and 4th Main Road Extension (Kottur Garden) at Rs 9,400 per sq.ft.

What are the stamp duty and registration fees for property in Naidu Street?

For a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000 and the registration fee would be Rs 1,88,000, totaling Rs 8,46,000.

Which office should I visit for registration in Adayar?

You should visit the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, for property registration in Adayar.