Guideline Value for Natrajapuram 1st Street

Natrajapuram 1st Street guideline value

The current guideline value of Natrajapuram 1st Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Natrajapuram 1st Street has changed

The guideline value for Natrajapuram 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,340 per sq.ft in 2017. The subsequent revisions showed a notable increase, with the value rising to Rs 2,000 per sq.ft in 2023 and reaching the current rate of Rs 2,160 per sq.ft in 2024. The overall change from 2007 to 2024 is an increase of 440%.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 400%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO with a 2024 guideline value range from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,160 per sq.ft, which is equal to the current value of Natrajapuram 1st Street.

• Natrajapuram 2nd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 3rd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 4th Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 5th Street: Rs 2,160 per sq.ft (2024)
• Nedunchezian Street: Rs 2,160 per sq.ft (2024)
• Nanmangalam Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Natrajapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to Rs 1,94,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Natrajapuram 1st Street?

The Sub Registrar Office that covers Natrajapuram 1st 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 Nemilicherry

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded at a fair value.

When registering a property, buyers and sellers must consider the guideline value, as it directly affects the stamp duty and registration fees. The fees are calculated based on the higher of the guideline value or the sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Natrajapuram 1st Street?

The current guideline value of Natrajapuram 1st Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 440% over this period.

What is the stamp duty rate for property transactions in Natrajapuram 1st Street?

The stamp duty rate for property transactions in Natrajapuram 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Natrajapuram 1st Street?

The Sub Registrar Office for Natrajapuram 1st Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification for Natrajapuram 1st Street?

Natrajapuram 1st Street is classified as Residential Class II Type - I under the Pallavaram SRO.