Guideline Value for NATARAJAN AVENUE

Natarajan Avenue guideline value

The current guideline value of Natarajan Avenue in Uthandi village, under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Natarajan Avenue has changed

The guideline value for Natarajan Avenue has seen significant changes over the years. In 2003, the value was Rs 310 per sq.ft, which increased to Rs 700 per sq.ft in 2007. Following this, the value rose to Rs 1,500 per sq.ft in 2012, but then decreased to Rs 1,005 per sq.ft in 2017. The value then increased again to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024.

Between the revisions, notable changes include a 126% increase from 2003 to 2007, a 114% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 13% increase from 2023 to 2024. The overall change from 2003 to 2024 is an increase of 448%. The register has no figure for this street in 2002.

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 the median being Rs 1,700 per sq.ft. Natarajan Avenue's 2024 guideline value is equal to this median.

• Natarajan Avenue/Garden: Rs 1,100 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natarajan Avenue?

The Natarajan Avenue is covered by 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 in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is bought or sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the current market standards set by the government. This helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of Natarajan Avenue?

The current guideline value of Natarajan Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 310 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 448% over this period.

What are the stamp duty and registration fees for property in Natarajan Avenue?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for Natarajan Avenue?

The Neelankarai Sub Registrar Office handles property registrations for Natarajan Avenue, located at East Coast Road, Neelangarai, Chennai.

What is the land classification of Natarajan Avenue?

Natarajan Avenue is classified as Residential Class II Type - II, indicating its intended use for residential purposes.