Guideline Value for Natco Colony North Street

Natco Colony North Street guideline value

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

How the guideline value of Natco Colony North Street has changed

The guideline value for Natco Colony North Street has seen several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 457 per sq.ft in 2003. The subsequent revisions were significant, with the value rising to Rs 2,000 per sq.ft in 2007, followed by a drop to Rs 3,500 per sq.ft in 2012. In 2017, the value increased to Rs 2,345 per sq.ft and then rose sharply to Rs 3,500 per sq.ft in 2023.

From 2023 to 2024, the guideline value increased by 11% to the current rate of Rs 3,900 per sq.ft. Overall, from 2002 to 2024, there has been a substantial increase of 916% in the guideline value for this street.

Guideline values in Kottivakkam

In Kottivakkam, 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, with the median being Rs 3,900 per sq.ft. Natco Colony North Street's 2024 figure matches this median.

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

Stamp duty and registration fee for property in Natco Colony North Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling 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.

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

Which Sub Registrar Office covers Natco Colony North Street?

The Sub Registrar Office that covers Natco Colony North Street 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

The guideline value plays a crucial role in property transactions in Kottivakkam. It is the basis for calculating the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the buyer usually pays the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Natco Colony North 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 increased from Rs 384 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 916% over this period.

What are the stamp duty and registration fees for property in Natco Colony North Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers Natco Colony North Street?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of the current guideline value for compliance with legal requirements.