Guideline Value for Natco Colony West Street

Natco Colony West Street guideline value

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

How the guideline value of Natco Colony West Street has changed

The guideline value for Natco Colony West Street has seen several revisions over the years. In 2002, the value was Rs 384 per sq.ft, which increased significantly to Rs 457 per sq.ft in 2003. Following that, there was a remarkable rise to Rs 2,000 per sq.ft in 2007, and then it escalated to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023 before reaching the current rate of Rs 3,900 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +19%. The value surged by +338% from 2003 to 2007. There was a +75% increase from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The value increased by +49% from 2017 to 2023, and finally, there was an increase of +11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +916%.

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 the same as the current value for Natco Colony West Street.

• Natco Colony West Cross Street: Rs 3,900 per sq.ft (2024)
• Natco Colony South Street: Rs 3,900 per sq.ft (2024)
• Natco Colony North Street: Rs 3,900 per sq.ft (2024)
• Natco Colony Middle 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 West 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, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these 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 West Street?

The Sub Registrar Office that covers Natco Colony West Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. 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 the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Natco Colony West 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 from Rs 384 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +916% over the years.

What is the land classification for Natco Colony West Street?

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

Where can I find the Sub Registrar Office for this area?

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

How is the stamp duty calculated for property transactions?

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