Guideline Value for Natesan Nagar (Ward-10)

Natesan Nagar (Ward-10) guideline value

The current guideline value of Natesan Nagar (Ward-10) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Natesan Nagar (Ward-10) has changed

The guideline value for Natesan Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 1,340 per sq.ft, which reflects a significant increase of +49% when compared to the 2023 figure. The 2012 revision also listed the value at Rs 2,000 per sq.ft, which was a decrease of -33% from the 2017 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Madhavaram

Madhavaram village features a total of 1946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, and Natesan Nagar's 2024 figure of Rs 2,200 per sq.ft is above this median.

• Natesan Nagar Extension: Rs 2,200 per sq.ft (2024)
• Natesan Nagar: Rs 2,200 per sq.ft (2024)
• Natesan Mari St (Ward No.2): Rs 2,200 per sq.ft (2024)
• Natarajan Nagar (Ward-11): Rs 1,300 per sq.ft (2024)
• Natarajan Nagar Extension: Rs 4,400 per sq.ft (2024)
• Natarajan Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Nagar (Ward-10)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Natesan Nagar (Ward-10)?

The Sub Registrar Office that covers Natesan Nagar (Ward-10) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers must be aware that the registration fee and stamp duty are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Natesan Nagar (Ward-10)?

The current guideline value of Natesan Nagar (Ward-10) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, an increase of +10%. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification of Natesan Nagar?

Natesan Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.

How is the stamp duty calculated for properties in Natesan Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.