Guideline Value for Natesan Street

Natesan Street guideline value

The current guideline value of Natesan Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Natesan Street has changed

The guideline value for Natesan Street has seen significant changes over the years. In 2003, the guideline value was Rs 138 per sq.ft, which increased to Rs 600 per sq.ft in 2007. Following that, it surged to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The register has no figure for the year 2002 for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%. However, from 2007 to 2012, there was a notable increase of 400%. The value further escalated from 2003 to 2007 by 335%. Overall, from 2003 to 2024, the guideline value has increased by 2291%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Natesan Street.

• Natpu Nagar: Rs 2,100 per sq.ft (2024)
• Neelakandan Street: Rs 2,160 per sq.ft (2024)
• Namalvar Street: Rs 3,300 per sq.ft (2024)
• Naladiyar Street: Rs 2,750 per sq.ft (2024)
• Nakkiran Street: Rs 3,520 per sq.ft (2024)
• Nellipettai 2nd Cross Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Natesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Natesan Street?

The Sub Registrar Office that covers Natesan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue based on the property's assessed value. Buyers and sellers should be aware of the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Natesan Street?

The current guideline value of Natesan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 138 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Natesan Street?

Natesan Street is classified as Residential Class I Type - II under the Pallavaram SRO.

Where is the Sub Registrar Office for Natesan Street located?

The Sub Registrar Office for Natesan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

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

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.