Guideline Value for Nattumuthu Naicken Street

Nattumuthu Naicken Street guideline value

The current guideline value for Nattumuthu Naicken Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nattumuthu Naicken Street has changed

The guideline value for Nattumuthu Naicken Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision in 2023 set the value at Rs 8,000 per sq.ft, which was an increase from the previous figure. The latest revision in 2024 has raised the guideline value to Rs 8,700 per sq.ft, marking a 9% increase from the 2023 figure.

In summary, the guideline value has increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This increase reflects the latest adjustments made by the Registration Department.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are a total of 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the guideline value for Nattumuthu Naicken Street is below this median.

• Narasimhan Street: Rs 7,700 per sq.ft (2024)
• Nandanam Extention 9th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 8th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 7th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 6th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 5th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nattumuthu Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total cost together to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Nattumuthu Naicken Street?

Nattumuthu Naicken Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 2. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are compliant with the legal requirements.

Frequently asked questions

What is the current guideline value of Nattumuthu Naicken Street?

The current guideline value of Nattumuthu Naicken Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, representing a 9% increase.

What is the land classification for Nattumuthu Naicken Street?

Nattumuthu Naicken Street is classified as Residential Class I Type - III.

What are the other streets in Mylapore Part 2 with their guideline values?

Other streets in Mylapore Part 2 include Narasimhan Street at Rs 7,700 per sq.ft and several streets in Nandanam Extension ranging from Rs 14,300 per sq.ft.

Where can I find the Sub Registrar Office for Nattumuthu Naicken Street?

The Sub Registrar Office covering Nattumuthu Naicken Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.