Guideline Value for NATESAN STREET

Natesan Street guideline value

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

How the guideline value of Natesan Street has changed

The guideline value for Natesan Street has seen significant changes over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a 33% drop. Following this, the value surged to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, representing a 10% increase from the previous year.

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

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO carrying a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median of Rs 1,700 per sq.ft. Natesan Street's 2024 guideline value of Rs 2,200 per sq.ft is above this median.

• Natesan Street (Near Omr): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natesan Street?

The Natesan Street is covered by 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 when buying or selling property in Karapakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property transaction occurs, the guideline value is used to determine the applicable taxes and fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to ensure compliance and avoid any unexpected costs 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 340% over this period.

What are the other streets in Karapakkam with similar guideline values?

Other streets in Karapakkam with similar guideline values include Natesan Avenue, Nannooh Brothers Garden, and Nehru Street, all valued at Rs 2,200 per sq.ft in 2024.

What is the stamp duty rate for properties in Natesan Street?

The stamp duty rate for properties in Natesan Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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