Guideline Value for Natco Colony South Street

Natco Colony South Street guideline value

The current guideline value of Natco Colony South 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 is classified as Residential Class II Type - I.

How the guideline value of Natco Colony South Street has changed

The guideline value for Natco Colony South Street has seen significant changes over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 457 per sq.ft in 2003, marking a rise of 19%. This upward trend continued, with the value soaring to Rs 2,000 per sq.ft in 2007, an increase of 338%. The value then increased to Rs 3,500 per sq.ft in 2012, reflecting a 75% rise. However, it experienced a decline to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 916%. The register has no figures for the years not mentioned above.

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 guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Natco Colony South Street.

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

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

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, while the registration fee at 2% would be Rs 78,000. Together, these fees would total 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natco Colony South Street?

The Sub Registrar Office that covers Natco Colony South Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For additional information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any issues during registration.

Frequently asked questions

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

The current guideline value of Natco Colony South 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, reflecting a total increase of 916% over this period.

What are the stamp duty and registration fees for properties in this area?

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 should I visit for transactions in Natco Colony South Street?

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

What is the land classification for Natco Colony South Street?

Natco Colony South Street is classified as Residential Class II Type - I, which indicates its designation for residential use.