Guideline Value for NATCHATIRA STREET

Natchatira Street guideline value

The current guideline value of Natchatira Street in Ramapuram village is Rs 1,950 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Natchatira Street has changed

The guideline value of Natchatira Street has undergone several revisions over the years. In 2002, the guideline value was Rs 245 per sq.ft. This increased to Rs 304 per sq.ft in 2003, marking a change of +24%. The value saw a significant rise to Rs 900 per sq.ft in 2007, representing a remarkable increase of +196%. Following this, the value adjusted to Rs 1,750 per sq.ft in 2012, which was a decrease of -33%. In 2017, the guideline value rose again to Rs 1,172 per sq.ft, and then it increased to Rs 1,750 per sq.ft in 2023. The latest revision in 2024 sets the value at Rs 1,950 per sq.ft, reflecting an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +696%. There are no figures available for the revisions in years not mentioned in the provided data.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, making Natchatira Street's 2024 figure below that median.

• Natarajan Street: Rs 1,950 per sq.ft (2024)
• Natesa Nagar 1st Lane: Rs 2,750 per sq.ft (2024)
• Natesa Nagar 1 to 6 Street: Rs 2,750 per sq.ft (2024)
• Natarajan Salai: Rs 1,950 per sq.ft (2024)
• Natesa Nagar 2nd Lane: Rs 2,750 per sq.ft (2024)
• Natesan Nagar (Sathiya Sivan Street): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Natchatira Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total fees together to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Natchatira Street?

The Sub Registrar Office that covers Natchatira Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Ramapuram. It is used to determine the amount of stamp duty and registration fees that need to be paid during the property registration process. The guideline value is set by the Registration Department and is regularly revised to reflect changes in the market.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant and that the correct fees are paid.

Frequently asked questions

What is the current guideline value of Natchatira Street?

The current guideline value of Natchatira Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 245 per sq.ft in 2002 to Rs 1,950 per sq.ft in 2024, showing an overall increase of +696%.

What is the median guideline value in Ramapuram?

The median guideline value in Ramapuram is Rs 3,100 per sq.ft, with Natchatira Street's 2024 figure being below this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 19,50,000, with stamp duty at Rs 1,36,500 and registration fees at Rs 39,000, totaling Rs 1,75,500.

Which Sub Registrar Office covers Natchatira Street?

The Chennai South Joint II Sub Registrar Office covers Natchatira Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.