Guideline Value for NAGANATHA NAGAR

Naganatha Nagar guideline value

The current guideline value of Naganatha Nagar, located in Arumbakkam village under the Kodambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - I land classification.

How the guideline value of Naganatha Nagar has changed

The guideline value for Naganatha Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 465 per sq.ft. This increased to Rs 513 per sq.ft in 2003, marking a 10% rise. The value then jumped significantly to Rs 700 per sq.ft in 2007, which was a 36% increase from the previous year. Following this, there was a substantial increase to Rs 3,000 per sq.ft in 2012, reflecting a 329% rise. However, the value dropped to Rs 2,010 per sq.ft in 2017, which was a decrease of 33%. The value climbed again to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 610%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Naganatha Nagar's 2024 guideline value is below this median.

• Muthumariamman Koil Street (Sandrorpalayam): Rs 5,000 per sq.ft (2024)
• Muthatchiamman Koil Street: Rs 3,300 per sq.ft (2024)
• Narasimmalu Street: Rs 6,000 per sq.ft (2024)
• Natarajapuram Street: Rs 4,400 per sq.ft (2024)
• Muralidharan Street (New Rangarajapuram): Rs 6,000 per sq.ft (2024)
• Munirathinam Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Naganatha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Naganatha Nagar?

The Sub Registrar Office that covers Naganatha Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Arumbakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be considered for calculating the applicable duties.

When registering a property, the guideline value ensures that the transaction is documented at a fair value as determined by the government. This helps maintain transparency and standardization in real estate transactions.

Frequently asked questions

What is the current guideline value of Naganatha Nagar?

The current guideline value of Naganatha Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 465 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 610% over the years.

What is the registration fee for property in Naganatha Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for Naganatha Nagar?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Naganatha Nagar?

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.