Guideline Value for Natesa Nagar 2nd Lane

Natesa Nagar 2nd Lane guideline value

The current guideline value of Natesa Nagar 2nd Lane is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Natesa Nagar 2nd Lane has changed

Over the years, the guideline value of Natesa Nagar 2nd Lane has seen several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and finally, it rose to Rs 2,750 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a net increase of 10% in the guideline value.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value of Natesa Nagar 2nd Lane is below this median.

• Natesa Nagar 1 to 6 Street: Rs 2,750 per sq.ft (2024)
• Natesa Nagar 1st Lane: Rs 2,750 per sq.ft (2024)
• Natchatira Street: Rs 1,950 per sq.ft (2024)
• Natarajan Street: Rs 1,950 per sq.ft (2024)
• Natarajan Salai: Rs 1,950 per sq.ft (2024)
• Natesan Nagar (Sathiya Sivan Street): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Natesa Nagar 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Natesa Nagar 2nd Lane?

The Natesa Nagar 2nd Lane is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical figure used during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Natesa Nagar 2nd Lane?

The current guideline value of Natesa Nagar 2nd Lane is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Natesa Nagar 2nd Lane?

The land classification for Natesa Nagar 2nd Lane is Residential Class II Type - II.

What is the median guideline value in Ramapuram?

The median guideline value in Ramapuram is Rs 3,100 per sq.ft, while Natesa Nagar 2nd Lane's value is below this median.

Where can I find the Sub Registrar Office for Natesa Nagar 2nd Lane?

The Sub Registrar Office covering Natesa Nagar 2nd Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.