Guideline Value for Naidu Street

Naidu Street guideline value

The current guideline value of Naidu Street in Kottur village, under the Adayar SRO, is Rs 9,400 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - I.

How the guideline value of Naidu Street has changed

The guideline value for Naidu Street has seen several revisions over the years. In 2012, the value was Rs 8,500 per sq.ft, which decreased to Rs 5,695 per sq.ft in 2017. Following this, the value increased significantly to Rs 8,500 per sq.ft in the 2023 revision, and then rose further to Rs 9,400 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottur

In Kottur, there are 114 streets under the Adayar SRO, with guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, which means Naidu Street's 2024 figure is above this median.

• Naidu Street Balakrishnan Lane: Rs 5,500 per sq.ft (2024)
• Naidu Street Extension: Rs 9,400 per sq.ft (2024)
• Muthulakshmi Salai (L.B. Road): Rs 12,700 per sq.ft (2024)
• New Street: Rs 6,100 per sq.ft (2024)
• Mannappan Street: Rs 3,300 per sq.ft (2024)
• Malligaipoo Nagar Slum: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naidu Street

For a 1,000 sq.ft plot at the current rate of Rs 9,400 per sq.ft, the guideline value would be 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, bringing the total to Rs 8,46,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kottur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is assessed to calculate the necessary fees. This ensures that all transactions are transparent and adhere to the legal framework established by the Registration Department.

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 has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the land classification of Naidu Street?

Naidu Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Naidu Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 94,00,000, the stamp duty at 7% would be Rs 6,58,000.