Guideline Value for Natesan Nagar Extension

Natesan Nagar Extension guideline value

The current guideline value of Natesan Nagar Extension 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 Extension has changed

The guideline value for Natesan Nagar Extension has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has seen a significant increase to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure. Notably, the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

When examining the changes between the revisions, the guideline value decreased by 33% from Rs 2,000 in 2012 to Rs 1,340 in 2017. Overall, from 2012 to 2024, there has been a slight increase of 10% in the guideline value, reflecting the current rate of Rs 2,200 per sq.ft.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Natesan Nagar Extension is above this median, indicating its relatively higher valuation.

• Natesan Nagar (Ward-10): 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 Extension

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, and the registration fee at 2% would be Rs 44,000, leading to a total of 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.

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

Which Sub Registrar Office covers Natesan Nagar Extension?

The Natesan Nagar Extension falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of 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 through stamp duties and registration fees.

When buying or selling property, the guideline value will be considered alongside the sale price. The higher of the two values will determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Natesan Nagar Extension?

The current guideline value of Natesan Nagar Extension 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 in 2012 to Rs 1,340 in 2017, and then increased to Rs 2,200 in 2024. Notably, there are no figures for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification of Natesan Nagar Extension?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty for property transactions is charged at 7% of the higher of the guideline value or the sale price, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,98,000 in fees.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can also find your SRO through the provided link.