Guideline Value for NATESAN STREET

Natesan Street guideline value

The current guideline value of Natesan Street, located in Thiruvanmiyur village, is Rs 7,150 per sq.ft as per the 2024 revision effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Natesan Street has changed

Over the years, the guideline value of Natesan Street has seen several revisions. The earliest recorded figure is from 2002, with a guideline value of Rs 1,225 per sq.ft. This value increased to Rs 1,355 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a 33% increase. Following this, in 2012, the guideline value dropped to Rs 6,500 per sq.ft, a decrease of 261%. In 2017, the value increased again to Rs 4,355 per sq.ft, and by 2023, it reached Rs 6,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 7,150 per sq.ft, which is a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 1,225 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, showing an overall increase of 484% over this period. There are no years in the register with missing figures for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, which indicates that Natesan Street's 2024 figure is below this median.

• Navabharath Colony: Rs 11,000 per sq.ft (2024)
• Navabharath Colony 1st Street: Rs 11,000 per sq.ft (2024)
• Navabharath Colony 2nd Street: Rs 11,000 per sq.ft (2024)
• Navalar Nedunchezhian Road: Rs 11,000 per sq.ft (2024)
• Navarathina Avenue: Rs 11,000 per sq.ft (2024)
• Nethaji Nagar North Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. 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 information.

Which Sub Registrar Office covers Natesan Street?

The Sub Registrar Office that covers Natesan Street is 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. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and 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 Street?

The current guideline value of Natesan Street is Rs 7,150 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,225 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, showing an overall increase of 484% over this period.

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

The stamp duty for property transactions in Natesan Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Natesan Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Natesan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the range of guideline values for other streets in Thiruvanmiyur?

The guideline values for other streets in Thiruvanmiyur range from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft.