Guideline Value for NATESAN NAGAR

Natesan Nagar guideline value

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

How the guideline value of Natesan Nagar has changed

The guideline value of Natesan Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, it experienced a decline to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 1,650 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

In terms of percentage changes, the value increased by 50% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 65%.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO, with 2024 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, making Natesan Nagar's 2024 figure below that median.

• Natesan Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Natesan Nagar 2nd Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to 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.

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

Which Sub Registrar Office covers Natesan Nagar?

Natesan Nagar falls under 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Iyyappanthangal. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees. Buyers should be aware that the guideline value is essential for ensuring compliance with local regulations during property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Natesan Nagar?

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 65%.

What is the land classification of Natesan Nagar?

Natesan Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty rates for property in Natesan Nagar?

The stamp duty for property in Natesan Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Natesan Nagar?

The Sub Registrar Office covering Natesan Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.