Guideline Value for Natco Colony Middle Street

Natco Colony Middle Street guideline value

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

How the guideline value of Natco Colony Middle Street has changed

The guideline value for Natco Colony Middle Street has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in the 2017 revision. The value then rose significantly to Rs 3,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 3,900 per sq.ft.

In terms of percentage changes, the value increased by 75% from 2007 to 2012, decreased by 33% from 2012 to 2017, and rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2007 to 2024, the guideline value has increased by 95%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Natco Colony Middle Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty, calculated at 7%, would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Natco Colony Middle Street?

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

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

The guideline value is a crucial factor during property registration in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the financial obligations involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Natco Colony Middle Street?

The current guideline value of Natco Colony Middle Street 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 several times, starting from Rs 2,000 per sq.ft in 2007, increasing to Rs 3,500 in 2012, dropping to Rs 2,345 in 2017, rising to Rs 3,500 in 2023, and finally reaching Rs 3,900 in 2024.

What is the land classification of Natco Colony Middle Street?

The land classification for Natco Colony Middle Street is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Natco Colony Middle Street?

The Adayar Sub Registrar Office, which covers Natco Colony Middle Street, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Natco Colony Middle Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 2,73,000.