Guideline Value for Natesan Colony

Natesan Colony guideline value

The current guideline value of Natesan Colony, located 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 Natesan Colony has changed

The guideline value for Natesan Colony has seen significant changes over the years. In 2002, the value was Rs 448 per sq.ft, which increased to Rs 533 per sq.ft in 2003, marking a 19% rise. The value then rose to Rs 1,250 per sq.ft in 2007, reflecting a substantial increase of 135%. Following this, the value jumped dramatically to Rs 3,500 per sq.ft in 2012, an increase of 180%. However, it decreased to Rs 2,345 per sq.ft in 2017, which was a decline of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by the current rate of Rs 3,900 per sq.ft in 2024, which is an 11% rise.

Overall, from 2002 to 2024, the guideline value has increased by 771%. There are no figures available for revisions in years other than those listed above.

Guideline values in Kottivakkam

Kottivakkam village has a range of guideline values across its 284 streets under the Adayar SRO, with the 2024 figures ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, which is equal to the current guideline value of Natesan Colony.

• Natco Colony West Street: Rs 3,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Natesan 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. Together, the total cost for these fees would be 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 Natesan Colony?

The Sub Registrar Office that covers Natesan Colony 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 when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the transaction is recorded at a fair value according to government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Natesan Colony?

The current guideline value of Natesan 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 significantly from Rs 448 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 771% over the years.

What is the stamp duty rate for property in Natesan Colony?

The stamp duty rate for property in Natesan Colony is 7% of the guideline value or the sale price, whichever is higher.

Where is the Adayar Sub Registrar Office located?

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

How is the guideline value determined for properties in Kottivakkam?

The guideline value for properties in Kottivakkam is determined by the Registration Department's guideline value register, which is revised periodically based on various factors, including market conditions and land classification.