Guideline Value for NATHAMUNI STREET

Nathamuni Street guideline value

The current guideline value of Nathamuni Street is Rs 11,000 per sq.ft. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Nathamuni Street has changed

The guideline value for Nathamuni Street has seen several revisions over the years. In 2002, the value was Rs 1,664 per sq.ft, which increased to Rs 2,850 per sq.ft in 2003, marking a rise of 71%. The value then continued to increase, reaching Rs 4,000 per sq.ft in 2007, a 40% increase from the previous revision. By 2012, the value was Rs 10,000 per sq.ft, reflecting a significant increase of 150% from 2007. However, in 2017, it decreased to Rs 6,700 per sq.ft, a decline of 33%. The value rose again to Rs 10,000 per sq.ft in 2023, and then reached the current value of Rs 11,000 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 561%. There are no figures available for the years not mentioned in the register.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which is equal to the current value of Nathamuni Street.

• Natesan Street: Rs 13,200 per sq.ft (2024)
• Neelakanta Mehta Street: Rs 14,300 per sq.ft (2024)
• Nandhi Loop Street: Rs 5,500 per sq.ft (2024)
• Nana Street: Rs 13,200 per sq.ft (2024)
• Nageswara Rao Road: Rs 17,600 per sq.ft (2024)
• New Boag Road: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nathamuni Street

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. 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 details.

Which Sub Registrar Office covers Nathamuni Street?

The Sub Registrar Office that covers Nathamuni Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

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

Frequently asked questions

What is the current guideline value of Nathamuni Street?

The current guideline value of Nathamuni Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 1,664 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 561%.

What is the classification of land on Nathamuni Street?

Nathamuni Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Nathamuni Street?

The Sub Registrar Office for Nathamuni Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.