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Guideline Value

Corporate

Guideline Value for Natesan Nagar 1st Main Road

₹4950/sq.ft.

The guideline value for Natesan Nagar 1st Main Road in Chenchery village (Virugambakkam SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chenchery

Village

Virugambakkam

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹651 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹586 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Natesan Nagar 1st Main Road

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Natesan Nagar 1st Main Road guideline value

The current guideline value of Natesan Nagar 1st Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This road is located in Chenchery village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Natesan Nagar 1st Main Road has changed

The guideline value for Natesan Nagar 1st Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 586 per sq.ft, which increased to Rs 651 per sq.ft in 2003. Following this, the value surged significantly to Rs 2,100 per sq.ft in 2007, marking a 223% increase. The value then rose to Rs 4,500 per sq.ft in 2012, reflecting a 114% increase. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%. The value was then revised to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,950 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 745%. There are no figures available for revisions in years other than those specified.

Guideline values in Chenchery

In Chenchery, there are 44 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft. Natesan Nagar 1st Main Road's current guideline value is above this median.

Stamp duty and registration fee for property in Natesan Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Natesan Nagar 1st Main Road?

The Natesan Nagar 1st Main Road is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the property registration process in Chenchery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Natesan Nagar 1st Main Road?

The current guideline value of Natesan Nagar 1st Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 586 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 745% over this period.

What are the other streets in Chenchery and their guideline values?

Other streets in Chenchery include Natesan Nagar 1st Cross Street and Natesan Nagar 2nd Cross Street, both at Rs 4,400 per sq.ft, and Natesan Nagar 2nd Main Road and Natesan Nagar 3rd Main Road, both at Rs 4,950 per sq.ft.

How is stamp duty calculated for properties in Natesan Nagar 1st Main Road?

Stamp duty for properties in Natesan Nagar 1st Main Road is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged.

Which office handles property registrations for Natesan Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office handles property registrations for Natesan Nagar 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.