Guideline Value for Natco Colony Main Road

Natco Colony Main Road guideline value

The current guideline value of Natco Colony Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Natco Colony Main Road has changed

The guideline value for Natco Colony Main Road has undergone several revisions over the years. In 2003, the value was set at Rs 533 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2007. This was followed by a rise to Rs 3,500 per sq.ft in 2012. However, there was a decrease in value to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 saw the value increase to Rs 3,500 per sq.ft, and the latest revision in 2024 has set it at Rs 3,900 per sq.ft.

Notably, the change from 2023 to 2024 reflects an increase of 11%. The increase from 2017 to 2023 was 49%, while the decrease from 2012 to 2017 was 33%. The value saw a significant rise of 75% from 2007 to 2012, and an impressive 275% increase from 2003 to 2007. Overall, from 2003 to 2024, the guideline value has increased by 632%. The register has no figure for the year 2002 for this street.

Guideline values in Kottivakkam

In Kottivakkam village, there are 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Natco Colony Main Road.

• Natco colony Anna Street: Rs 3,900 per sq.ft (2024)
• Natco Colony Middle Street: Rs 3,900 per sq.ft (2024)
• Natco colony: Rs 3,900 per sq.ft (2024)
• Natco Colony North Street: Rs 3,900 per sq.ft (2024)
• Natco Colony South Street: Rs 3,900 per sq.ft (2024)
• Natco Colony West Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Natco Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that 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 Natco Colony Main Road?

The Sub Registrar Office that covers Natco Colony Main Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

When buying or selling property in Kottivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Natco Colony Main Road?

The current guideline value of Natco Colony Main Road is Rs 3,900 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 533 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 632% over the years.

What is the role of the Adayar SRO?

The Adayar SRO is responsible for registering property transactions in Kottivakkam, including Natco Colony Main Road. It ensures that all property transactions are recorded accurately.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the true value of the property being transacted.

Where can I find more information about the guideline values in Kottivakkam?

More information about the guideline values in Kottivakkam can be found in the Registration Department's guideline value register (TNReginet), which provides detailed figures for various streets in the area.