Guideline Value for Natpu Nagar

Natpu Nagar guideline value

The current guideline value of Natpu Nagar, located in Zaminpallavaram village, is Rs 2,100 per sq.ft as per the 2024 revision. This value is effective from 1 July 2024 and falls under the Residential Class IV Type - I land classification. The property is registered at the Pallavaram Sub Registrar Office (SRO).

How the guideline value of Natpu Nagar has changed

The guideline value for Natpu Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. The most recent 2024 revision raised the guideline value to Rs 2,100 per sq.ft, marking a 5% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 250%. Notably, there are no figures available for the years 2002, 2003, and 2017 for this street in the register.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, indicating that Natpu Nagar's 2024 guideline value is below this median.

• Natesan Street: Rs 3,300 per sq.ft (2024)
• Neelakandan Street: Rs 2,160 per sq.ft (2024)
• Namalvar Street: Rs 3,300 per sq.ft (2024)
• Nellipettai 2nd Cross Street: Rs 2,160 per sq.ft (2024)
• Nellipettai Cross Street: Rs 2,160 per sq.ft (2024)
• Nellipettai High Road: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Natpu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty, charged at 7%, would amount to Rs 1,47,000, while the registration fee at 2% would be Rs 42,000. Together, the total cost for these fees would be Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Natpu Nagar?

The Sub Registrar Office that covers Natpu Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 plays a crucial role in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees, ensuring that the transaction is recorded accurately. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Natpu Nagar?

The current guideline value of Natpu Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,100 per sq.ft in 2024, marking a 250% increase overall. There were no changes in the values for the years 2012 and 2023.

What are the guideline values of other streets in Zaminpallavaram?

Other streets in Zaminpallavaram have varying guideline values, ranging from Rs 2,160 to Rs 3,300 per sq.ft in 2024. For example, Natesan Street and Namalvar Street are valued at Rs 3,300 per sq.ft.

What fees are associated with buying property in Natpu Nagar?

When buying property in Natpu Nagar, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For a property valued at Rs 21,00,000, these fees would total Rs 1,89,000.

Where can I find the Sub Registrar Office for Natpu Nagar?

The Sub Registrar Office for Natpu Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. This office handles all registrations for the area.