Guideline Value for NATESAN STREET

Natesan Street guideline value

The current guideline value of Natesan Street in Perumbakkam village, under the Selaiyur SRO, is Rs 1,175 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - I.

How the guideline value of Natesan Street has changed

The guideline value for Natesan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which decreased to Rs 603 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value significantly increased by 82% to reach Rs 1,100 per sq.ft. The latest revision in 2024 saw a further increase of 7%, bringing the current guideline value to Rs 1,175 per sq.ft.

There are no recorded figures for the years 2002, 2003, and 2007 for Natesan Street. Overall, from 2012 to 2024, the guideline value has increased by 31%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, indicating that Natesan Street's current value is below this median.

• Natarajan Nagar: Rs 2,725 per sq.ft (2024)
• Nehru Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)
• Nesamani Nagar: Rs 2,750 per sq.ft (2024)
• Nethaji Nagar 1st - 17th Street: Rs 1,600 per sq.ft (2024)
• Nethaji Nagar Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,175 per sq.ft, the total guideline value would be Rs 11,75,000. The stamp duty at 7% would amount to Rs 82,250, and the registration fee at 2% would be Rs 23,500, bringing the total charges to Rs 1,05,750. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Natesan Street?

Natesan Street falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used by the registration office to calculate the applicable stamp duty and registration fees during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is not undervalued, thereby safeguarding the interests of all parties involved. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Natesan Street?

The current guideline value of Natesan Street is Rs 1,175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 1,175 per sq.ft in 2024, with various revisions in between, including a significant increase of 82% from 2017 to 2023.

What is the land classification for Natesan Street?

Natesan Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the registration office for Natesan Street?

The Selaiyur Sub Registrar Office covers Natesan Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,75,000 would incur a stamp duty of Rs 82,250 at 7%.