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Guideline Value

Corporate

Guideline Value for Natesan Nagar 2nd Main Road

₹4950/sq.ft.

The guideline value for Natesan Nagar 2nd 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 2nd Main Road

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Natesan Nagar 2nd Main Road guideline value

The current guideline value of Natesan Nagar 2nd Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This street 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 2nd Main Road has changed

The guideline value for Natesan Nagar 2nd Main Road has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 586 per sq.ft. This value increased to Rs 651 per sq.ft in 2003, marking an increase of 11%. The next significant jump occurred in 2007 when the value rose to Rs 2,100 per sq.ft, reflecting a substantial increase of 223%. In 2012, the guideline value was recorded at Rs 4,500 per sq.ft, which was a 114% increase from the previous revision.

From 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, indicating a decline of 33%. However, this was followed by a significant increase to Rs 4,500 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 4,950 per sq.ft, reflecting a 10% increase from the previous year.

Guideline values in Chenchery

In Chenchery, there are 44 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 7,700 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, making the guideline value of Natesan Nagar 2nd Main Road above this median.

Stamp duty and registration fee for property in Natesan Nagar 2nd 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 would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, while the registration fee at 2% would be Rs 99,000. Therefore, the total cost for stamp duty and registration would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Natesan Nagar 2nd Main Road?

The Sub Registrar Office that covers Natesan Nagar 2nd Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Chenchery. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the property is registered at a fair value according to the regulations set by the Registration Department. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Natesan Nagar 2nd Main Road?

The current guideline value of Natesan Nagar 2nd Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024.

How 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 the years.

What is the land classification for Natesan Nagar 2nd Main Road?

The land classification for Natesan Nagar 2nd Main Road is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Natesan Nagar 2nd Main Road?

The Sub Registrar Office for Natesan Nagar 2nd Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Natesan Nagar 2nd Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty at 7% would amount to Rs 3,46,500.