Guideline Value for Nathakollai Street

Nathakollai Street guideline value

The current guideline value of Nathakollai Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Edamichi village, under the Salavakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nathakollai Street has changed

Looking at the revisions, the guideline value for Nathakollai Street has undergone several changes over the years. The 2012 revision set the value at Rs 75 per sq.ft, which then increased to Rs 50 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose by 100% to reach Rs 100 per sq.ft, which has remained unchanged in the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Edamichi

In Edamichi village, there are four streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 102 per sq.ft. The median value for these streets is Rs 102 per sq.ft, placing Nathakollai Street's 2024 figure below that median.

• Mano Mount City: Rs 102 per sq.ft (2024)
• Star Garden Phase-I: Rs 101 per sq.ft (2024)
• Vijay Raja Kurunchi: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Nathakollai Street

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is essential 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 precise calculations.

Which Sub Registrar Office covers Nathakollai Street?

The Sub Registrar Office covering Nathakollai Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Edamichi. It is used to calculate the stamp duty and registration fees that must be paid at the time of property registration. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented at a fair price according to the local government's assessments. This helps maintain transparency in property dealings and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Nathakollai Street?

The current guideline value of Nathakollai Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and has remained the same in 2024.

What is the registration fee for properties in Nathakollai Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 1,00,000, the registration fee would be Rs 2,000.

Where is the Sub Registrar Office for Nathakollai Street located?

The Sub Registrar Office for Nathakollai Street is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

What are the other streets in Edamichi with guideline values?

Other streets in Edamichi with guideline values include Mano Mount City, Star Garden Phase-I, and Vijay Raja Kurunchi, with values ranging from Rs 101 to Rs 102 per sq.ft in 2024.