Guideline Value for Natesan Nagar : -

Natesan Nagar : - guideline value

The current guideline value for Natesan Nagar : - is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Natesan Nagar : - has changed

The guideline value for Natesan Nagar has seen several revisions over the years. In 2002, the value was Rs 167 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value rose to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the most notable changes include a 1996% increase from 2002 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023. The guideline value has increased overall by 2205% from 2002 to 2024. It is important to note that there are no figures available for the years 2003 and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Natesan Nagar's 2024 figure below that median.

• Natesan Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Natesan Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Natarajan Street/Nataraja Street: Rs 4,400 per sq.ft (2024)
• Natrajan Street,Gandhi Road: Rs 4,400 per sq.ft (2024)
• Narmatha Street: Rs 3,850 per sq.ft (2024)
• Nattar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Nagar : -

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Natesan Nagar : -?

The Sub Registrar Office that covers Natesan Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is an essential factor during the registration of property transactions in Velachery. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for valuation. Buyers and sellers must be aware of the guideline value to understand the costs involved in the transaction, including stamp duty and registration fees based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Natesan Nagar?

The current guideline value of Natesan Nagar : - is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 167 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking a significant overall increase of 2205%.

What is the land classification of Natesan Nagar?

Natesan Nagar is classified as Residential Class II Type - III, indicating its designation for residential purposes.

What are the other streets in Velachery with similar guideline values?

Other streets in Velachery with a guideline value of Rs 3,850 per sq.ft include Natesan Nagar 1st Street, Natesan Nagar 2nd Street, Narmatha Street, and Nattar Street.

Where can I find the Sub Registrar Office for Natesan Nagar?

The Sub Registrar Office for Natesan Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.