Guideline Value for NATARAJAN AVENUE/GARDEN

Natarajan Avenue/Garden guideline value

The current guideline value for Natarajan Avenue/Garden in Uthandi village, under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Natarajan Avenue/Garden has changed

The guideline value for Natarajan Avenue/Garden has seen several revisions over the years. In 2012, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%. The value then rose by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Natarajan Avenue/Garden is below this median.

• Natarajan Avenue: Rs 1,700 per sq.ft (2024)
• Natarajan Garden: Rs 1,100 per sq.ft (2024)
• Neela Garden: Rs 1,100 per sq.ft (2024)
• Naiyeenar Kuppam: Rs 2,200 per sq.ft (2024)
• Muthanmal Garden: Rs 1,100 per sq.ft (2024)
• Muthalamman Koil Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Avenue/Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Natarajan Avenue/Garden?

The Natarajan Avenue/Garden falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Natarajan Avenue/Garden?

The current guideline value for Natarajan Avenue/Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Natarajan Avenue/Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Natarajan Avenue/Garden?

Natarajan Avenue/Garden is classified as Residential Class III Type - I, indicating its suitability for residential development.