Guideline Value for NATESAN NAGAR 1ST STREET

Natesan Nagar 1st Street guideline value

The current guideline value of Natesan Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Natesan Nagar 1st Street has changed

The guideline value for Natesan Nagar 1st Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This value decreased to Rs 1,005 per sq.ft in 2017, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 1,500 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 1,650 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Natesan Nagar 1st Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Natesan Nagar 1st Street's 2024 figure below that median.

• Natesan Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Natesan Nagar: Rs 1,650 per sq.ft (2024)
• Natesan Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Natesan Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Nathan Nagar Main Road: Rs 1,980 per sq.ft (2024)
• Mount Poonamallee Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fees would be Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natesan Nagar 1st Street?

The Natesan Nagar 1st Street falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

When buying or selling property in Iyyappanthangal, the guideline value plays a crucial role in determining the registration fees. The guideline value is used as a reference point for calculating the stamp duty and registration fees that need to be paid during the transaction. It ensures that the property is registered at a value that reflects its market worth according to the government standards.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value may differ from the sale price, and the higher of the two will be considered for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value for Natesan Nagar 1st Street?

The current guideline value for Natesan Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times: it was Rs 1,500 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, increased to Rs 1,500 per sq.ft in 2023, and finally rose to Rs 1,650 per sq.ft in 2024.

What is the land classification for Natesan Nagar 1st Street?

The land classification for Natesan Nagar 1st Street is Residential Class IV Type - I.

Where can I find the registration office for Natesan Nagar 1st Street?

The registration office for Natesan Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Natesan Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.