Guideline Value for NATESAN STREET

Natesan Street guideline value

The current guideline value of Natesan Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Natesan Street has changed

The guideline value of Natesan Street has seen significant changes over the years. In 2003, the guideline value was Rs 3,200 per sq.ft. This figure rose to Rs 4,000 per sq.ft in 2007, marking a 25% increase. The value then jumped to Rs 12,000 per sq.ft in 2012, reflecting a substantial 200% increase from the previous revision. However, it decreased to Rs 8,040 per sq.ft in 2017, which was a decline of 33%. The value then increased by 49% to Rs 12,000 per sq.ft in 2023 and has now risen to Rs 13,200 per sq.ft in the 2024 revision, a 10% increase.

It is important to note that the register has no figure for Natesan Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 313%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, placing Natesan Street's 2024 figure above this median.

• Nathamuni Street: Rs 11,000 per sq.ft (2024)
• Neelakanta Mehta Street: Rs 14,300 per sq.ft (2024)
• Nandhi Loop Street: Rs 5,500 per sq.ft (2024)
• Nana Street: Rs 13,200 per sq.ft (2024)
• Nageswara Rao Road: Rs 17,600 per sq.ft (2024)
• New Boag Road: 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 guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. 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 Sub Registrar Office covering Natesan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Natesan Street?

The current guideline value of Natesan Street is Rs 13,200 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 3,200 per sq.ft in 2003 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the registration office for Natesan Street?

The registration office for Natesan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What are the stamp duty and registration fees for properties in Natesan Street?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

What is the land classification of Natesan Street?

Natesan Street is classified as Mixed Special Type - II, which is relevant for understanding its guideline value and potential uses.