Guideline Value for Natesan Nagar 2nd Street

Natesan Nagar 2nd Street guideline value

The current guideline value of Natesan Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vepery village and falls under the Periamet SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Natesan Nagar 2nd Street has changed

In the 2024 revision, the guideline value for Natesan Nagar 2nd Street is set at Rs 2,700 per sq.ft. The register does not have figures for the years 2023, 2017, 2012, 2007, 2003, and 2002 for this street, indicating that there have been no recorded changes in the guideline value during those years.

Since the 2024 revision, there have been no changes in the guideline value for Natesan Nagar 2nd Street. The current figure remains consistent with the previous revisions, although those years do not specify a value for this street.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 4,800 per sq.ft, and the guideline value for Natesan Nagar 2nd Street is below this median.

• Natesan Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Naval Hospital 10th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 11th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 12th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 13th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 14th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natesan Nagar 2nd Street?

The Natesan Nagar 2nd Street falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is an essential factor when buying or selling property in Vepery, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the authorities. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Natesan Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Natesan Nagar 2nd Street has remained at Rs 2,700 per sq.ft since the 2024 revision. The register does not have figures for the years 2023, 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Natesan Nagar 2nd Street?

Natesan Nagar 2nd Street is classified as Residential Class IV Type - I. This classification is important for understanding the type of development permitted in the area.

What are the stamp duty and registration fees for property in Natesan Nagar 2nd Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Natesan Nagar 2nd Street located?

The Sub Registrar Office covering Natesan Nagar 2nd Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. This office is responsible for property registrations in the area.