Guideline Value for NATESAN NAGAR

Natesan Nagar guideline value

The current guideline value of Natesan Nagar, located in Koladi village under the Chennai South Joint II SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification.

How the guideline value of Natesan Nagar has changed

The guideline value for Natesan Nagar has undergone several revisions over the years. The earliest recorded value was Rs 200 per sq.ft in 2007, which increased dramatically to Rs 800 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. The value then saw a significant increase to Rs 800 per sq.ft in 2023, followed by another rise to Rs 880 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. Notably, there are no figures recorded for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which indicates that Natesan Nagar's current value is below this median.

• Om Parasakthi Nagar: Rs 880 per sq.ft (2024)
• M. R. Nagar: Rs 880 per sq.ft (2024)
• Pachaiappan Nagar: Rs 1,650 per sq.ft (2024)
• Padmanabhan Nagar: Rs 1,100 per sq.ft (2024)
• Pallavan Nagar: Rs 2,750 per sq.ft (2024)
• Pallavan Nagar 1st Cross Street: Rs 2,750 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration would be Rs 79,200. 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 further calculations.

Which Sub Registrar Office covers Natesan Nagar?

Natesan Nagar falls under 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koladi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Natesan Nagar?

The current guideline value for Natesan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting a total increase of 340% over the years.

What is the registration office for Natesan Nagar?

Natesan Nagar is covered by 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.

How is stamp duty calculated in Natesan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 8,80,000 would incur a stamp duty of Rs 61,600 at a rate of 7%.

What other streets have similar guideline values in Koladi?

Other streets in Koladi, such as Om Parasakthi Nagar and M. R. Nagar, also have a guideline value of Rs 880 per sq.ft for 2024. However, streets like Pachaiappan Nagar have a significantly higher value of Rs 1,650 per sq.ft.