Guideline Value for NATESAN STREET

Natesan Street guideline value

The current guideline value of Natesan Street in Okkiyamthuraipakkam 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 - III.

How the guideline value of Natesan Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure dropped to Rs 1,340 per sq.ft in the 2017 revision, representing a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for Natesan Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Natesan Street's 2024 figure is below this median.

• Natural Springs: Rs 6,100 per sq.ft (2024)
• Natural Springs II: Rs 4,400 per sq.ft (2024)
• Navaneetham Ammal Street: Rs 1,100 per sq.ft (2024)
• Neelankarai To Thoraipakkam Link Road: Rs 3,300 per sq.ft (2024)
• NEHRU NAGAR 14th CROSS STREET: Rs 3,900 per sq.ft (2024)
• Nehru Nagar 1 St Street - 13 Th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is 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 the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Natesan Street?

Natesan Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is crucial in property transactions as it determines the minimum value at which a property can be registered. When buying or selling a property in Okkiyamthuraipakkam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value is periodically revised to reflect changes in the real estate market and local conditions.

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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back 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 for Natesan Street?

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

Where can I find the Neelankarai Sub Registrar Office?

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

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.