Guideline Value for Natrajapuram 3rd Street

Natrajapuram 3rd Street guideline value

The current guideline value of Natrajapuram 3rd Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Natrajapuram 3rd Street has changed

The guideline value for Natrajapuram 3rd Street has seen several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 400%. However, the value then dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision recorded a value of Rs 2,000 per sq.ft, which then increased to the current rate of Rs 2,160 per sq.ft in 2024, an increase of 8%.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 440%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, which is equal to the current guideline value of Natrajapuram 3rd Street.

• Natrajapuram 2nd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 4th Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200. Together, the total cost for stamp duty and registration would be Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natrajapuram 3rd Street?

The Natrajapuram 3rd Street falls under 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 Nemilicherry

The guideline value is a crucial factor when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure that the registration process complies with the local regulations.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value, as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Natrajapuram 3rd Street?

The current guideline value of Natrajapuram 3rd 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 the years.

What are the stamp duty and registration fees for properties in Natrajapuram 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 21,60,000. The stamp duty at 7% is Rs 1,51,200, and the registration fee at 2% is Rs 43,200, totaling Rs 1,94,400.

Which office handles property registrations for Natrajapuram 3rd Street?

The Pallavaram Sub Registrar Office handles property registrations for Natrajapuram 3rd Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Natrajapuram 3rd Street?

Natrajapuram 3rd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.