Guideline Value for Natrajapuram 2nd Street

Natrajapuram 2nd Street guideline value

The current guideline value of Natrajapuram 2nd Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Natrajapuram 2nd Street has changed

The guideline value for Natrajapuram 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which saw a significant increase to Rs 2,000 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,340 per sq.ft in 2017. The value then rose sharply to Rs 2,000 per sq.ft in 2023, followed by an increase of 8% to the current value of Rs 2,160 per sq.ft in 2024.

Between the revisions, the changes are notable. From 2007 to 2012, there was a remarkable increase of 400%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, culminating in an 8% rise from 2023 to 2024. The overall increase from 2007 to 2024 stands at 440%. 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 guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Natrajapuram 2nd Street.

• Natrajapuram 1st 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 2nd 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 fees to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Natrajapuram 2nd Street?

The Sub Registrar Office that covers Natrajapuram 2nd 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 when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property for registration purposes.

Additionally, the guideline value helps in ensuring transparency in property transactions. It provides a standardized method for evaluating properties, which can help prevent undervaluation or overvaluation during sales. Understanding the guideline value is essential for anyone involved in real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Natrajapuram 2nd Street?

The current guideline value of Natrajapuram 2nd 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 significantly from Rs 400 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 440% over the years.

What are the other streets in Nemilicherry with the same guideline value?

Other streets in Nemilicherry with the same guideline value of Rs 2,160 per sq.ft include Natrajapuram 1st Street, Natrajapuram 3rd Street, Natrajapuram 4th Street, Natrajapuram 5th Street, and Nedunchezian Street.

What fees are associated with buying property in Natrajapuram 2nd Street?

When buying property in Natrajapuram 2nd Street, the stamp duty is 7% and the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot would incur total fees of Rs 1,94,400.

Where can I find the Sub Registrar Office for Natrajapuram 2nd Street?

The Sub Registrar Office for Natrajapuram 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.