Guideline Value for Nathat Subedhar Street

Nathat Subedhar Street guideline value

The current guideline value of Nathat Subedhar Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Nathat Subedhar Street has changed

The guideline value for Nathat Subedhar Street has undergone several revisions over the years. In 2002, the value was Rs 387 per sq.ft, which increased to Rs 485 per sq.ft in 2003, reflecting a change of +25%. By 2007, the value rose significantly to Rs 800 per sq.ft, marking an increase of +65%. The value then saw a substantial jump to Rs 4,000 per sq.ft in 2012, which was a +400% increase. However, from 2012 to 2017, the guideline value dropped to Rs 2,680 per sq.ft, a decrease of -33%. The value climbed again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1037%. The register does not have figures for any other revisions for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Nathat Subedhar Street's 2024 figure above this median.

• Nasarathpuram: Rs 3,300 per sq.ft (2024)
• Nazarathpuram: Rs 3,300 per sq.ft (2024)
• Nazarathpuram Road: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 3,850 per sq.ft (2024)
• Nethaji Nagar: Rs 3,850 per sq.ft (2024)
• Nethaji Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nathat Subedhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nathat Subedhar Street?

The Sub Registrar Office that covers Nathat Subedhar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property transfer. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair valuation of the property, based on the prevailing rates established by the Registration Department.

Frequently asked questions

What is the current guideline value of Nathat Subedhar Street?

The current guideline value of Nathat Subedhar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 387 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1037% over the years.

What is the land classification for Nathat Subedhar Street?

Nathat Subedhar Street is classified as Residential Class I Type - II, indicating its designation for residential use.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for determining the legal valuation of the property being transferred.

Where can I find the Sub Registrar Office for Nathat Subedhar Street?

The Sub Registrar Office for Nathat Subedhar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.