Guideline Value for Natco colony

Natco colony guideline value

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

How the guideline value of Natco colony has changed

The guideline value for Natco colony has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,900 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the jump from 2023 to 2024 is an increase of 11%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

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. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Natco colony.

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

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, totaling Rs 3,51,000. 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?

The Sub Registrar Office that covers Natco colony 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 is a critical factor during the registration of property transactions in Kottivakkam. It determines the minimum price at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for assessing the transaction price. If the sale price exceeds the guideline value, the stamp duty and registration fees will be calculated based on the sale price.

Frequently asked questions

What is the current guideline value of Natco colony?

The current guideline value of Natco colony 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 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for Natco colony?

The land classification for Natco colony is Residential Class II Type - I.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated in Natco colony?

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 total stamp duty of Rs 2,73,000 at 7%.