Guideline Value for Natrajapuram 5th Street

Natrajapuram 5th Street guideline value

The current guideline value of Natrajapuram 5th 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 5th Street has changed

The guideline value for Natrajapuram 5th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was set at Rs 400 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% increase. However, it then dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it is set at Rs 2,160 per sq.ft in 2024, an increase of 8% from the previous year.

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

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,160 per sq.ft, which is equal to the current value of Natrajapuram 5th Street.

• Natrajapuram 4th Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 3rd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 2nd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 1st 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 5th 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, 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 or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natrajapuram 5th Street?

The Natrajapuram 5th 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that properties are not sold below a certain price.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Natrajapuram 5th Street?

The current guideline value of Natrajapuram 5th 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 seen several revisions, increasing from Rs 400 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, which is a total increase of 440% over the years.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value or sale price, and the registration fee is 2%. For a property valued at Rs 21,60,000, the total fees would amount to Rs 1,94,400.

Which office handles registrations for Natrajapuram 5th Street?

The Pallavaram Sub Registrar Office is responsible for registrations in Natrajapuram 5th Street, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the median guideline value in Nemilicherry?

The median guideline value in Nemilicherry is Rs 2,160 per sq.ft, which is the same as the current guideline value for Natrajapuram 5th Street.