Guideline Value for NATHAN NAGAR MAIN ROAD

Nathan Nagar Main Road guideline value

The current guideline value of Nathan Nagar Main Road is Rs 1,980 per sq.ft, effective from 1 July 2024. This road is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Nathan Nagar Main Road has changed

The guideline value for Nathan Nagar Main Road has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it decreased to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, and the most recent revision in 2024 marked an increase to Rs 1,980 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, the value increased by 500%, but then it dropped by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Nathan Nagar Main Road's 2024 figure below that median.

• Natesan Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Natesan Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Natesan Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Natesan Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Natesan Nagar: Rs 1,650 per sq.ft (2024)
• Othavaadai 1st Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nathan Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 Nathan Nagar Main Road?

Nathan Nagar Main Road is covered by 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 more information.

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

The guideline value is an essential factor in property transactions in Iyyappanthangal, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the registration office uses the guideline value to calculate applicable duties and fees. This ensures that the government receives the correct revenue based on the property's assessed value, which is crucial for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Nathan Nagar Main Road?

The current guideline value of Nathan Nagar Main Road is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What is the land classification for Nathan Nagar Main Road?

Nathan Nagar Main Road is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,78,200.

Which office handles registrations for Nathan Nagar Main Road?

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