Guideline Value for Natesan Street

Natesan Street guideline value

The current guideline value of Natesan Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Natesan Street has changed

The guideline value for Natesan Street has seen significant changes over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 1,700 per sq.ft in 2012. However, in 2017, it dropped to Rs 1,139 per sq.ft. The value then rose sharply to Rs 1,700 per sq.ft in 2023, before reaching the current value of Rs 1,870 per sq.ft in 2024.

Specifically, the changes between revisions are notable. From 2007 to 2012, the value increased by 240%, but it decreased by 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 274%.

Guideline values in Naravarikuppam

Naravarikuppam village has a total of 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Natesan Street's 2024 value above this median.

• Nara Lane: Rs 1,320 per sq.ft (2024)
• Nehru Street: Rs 1,870 per sq.ft (2024)
• Nethaji Street: Rs 1,870 per sq.ft (2024)
• Nethaji Street Lane: Rs 1,870 per sq.ft (2024)
• Muthusha Hussain Street: Rs 1,320 per sq.ft (2024)
• Muthuramalinga Devar Street: Rs 2,200 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 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, making a total of Rs 1,68,300. 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 Street?

The Sub Registrar Office that covers Natesan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies 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 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,870 per sq.ft in 2024, with various fluctuations in between, including a drop and subsequent rises in value.

What are the stamp duty and registration fees for properties on Natesan Street?

For a 1,000 sq.ft property, the total guideline value would be Rs 18,70,000. The stamp duty would be Rs 1,30,900, and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which office handles registrations for Natesan Street?

The Redhills Sub Registrar Office handles registrations for Natesan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property transactions and is essential for calculating stamp duty and registration fees during the registration process.