Guideline Value for NATESAN NAGAR

Natesan Nagar guideline value

The current guideline value of Natesan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Natesan Nagar has changed

The guideline value for Natesan Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 175 per sq.ft. This value increased significantly to Rs 500 per sq.ft in 2012, marking a rise of 186%. However, it then dropped to Rs 335 per sq.ft in 2017, which was a decrease of 33%. The value remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been a substantial increase of 186%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,850 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which means that Natesan Nagar's 2024 figure is below that median.

• N.P.Nagar: Rs 1,717 per sq.ft (2024)
• Panbunagar: Rs 700 per sq.ft (2024)
• Patel Nagar: Rs 500 per sq.ft (2024)
• Manickam Nagar: Rs 700 per sq.ft (2024)
• Pillayar Koil St: Rs 700 per sq.ft (2024)
• Madras Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total fees together Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Natesan Nagar?

Natesan Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perumattu Nellore. It serves as a reference point for determining the stamp duty and registration fees that are applicable during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Natesan Nagar?

The current guideline value of Natesan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 175 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreasing to Rs 335 per sq.ft in 2017, and remaining at Rs 500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Perumattu Nellore?

The median guideline value in Perumattu Nellore is Rs 700 per sq.ft, while Natesan Nagar's current value is below this median at Rs 500 per sq.ft.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the stamp duty would be Rs 35,000.