Guideline Value for NATESAN STREET (NEAR OMR)

Natesan Street (Near Omr) guideline value

The current guideline value of Natesan Street (Near Omr) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Natesan Street (Near Omr) has changed

The guideline value for Natesan Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft. The register has no figure for this street in 2002, 2003, or 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision saw a rise of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value among these streets is Rs 1,700 per sq.ft, placing Natesan Street's 2024 figure above that median.

• Natesan Street: Rs 2,200 per sq.ft (2024)
• Natesan Avenue: Rs 2,200 per sq.ft (2024)
• Narayanaswamy Street: Rs 1,700 per sq.ft (2024)
• Nazir Kagani Garden: Rs 1,100 per sq.ft (2024)
• Nannooh Brothers Garden: Rs 2,200 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Street (Near Omr)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Natesan Street (Near Omr)?

The Sub Registrar Office that covers Natesan Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Karapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Natesan Street (Near Omr)?

The current guideline value of Natesan Street (Near Omr) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Natesan Street?

Natesan Street is classified as Residential Class II Type - II under the Neelankarai SRO.

What are the stamp duty and registration fees for property on Natesan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Natesan Street?

The Neelankarai Sub Registrar Office covers Natesan Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.