Guideline Value for NEW NATARAJAPURAM STREET

New Natarajapuram Street guideline value

The current guideline value of New Natarajapuram Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of New Natarajapuram Street has changed

The guideline value for New Natarajapuram Street has undergone several revisions over the years. In 2002, the guideline value was Rs 577 per sq.ft, which increased to Rs 950 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 4,600 per sq.ft in 2012, but then dropped to Rs 3,082 per sq.ft in 2017. The 2023 revision set the value at Rs 4,600 per sq.ft, and the most recent revision in 2024 raised it to Rs 5,000 per sq.ft. Notably, there is no figure available for this street in the 2003 revision.

From 2017 to 2023, there was a notable increase of 49%, followed by a 9% rise from 2023 to 2024. The value saw a drastic increase of 384% from 2007 to 2012, while the overall change from 2002 to 2024 reflects a substantial increase of 767%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value in this area is Rs 6,000 per sq.ft, placing New Natarajapuram Street's 2024 figure below that median.

• New Street, Sri Sakthi Nagar: Rs 6,000 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)
• N.S.K. Nagar 10 Street: Rs 4,400 per sq.ft (2024)
• N.S.K. Nagar 11 Street: Rs 4,400 per sq.ft (2024)
• N.S.K. Nagar 12 Street: Rs 4,400 per sq.ft (2024)
• N.S.K. Nagar 13 Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Natarajapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Natarajapuram Street?

The Sub Registrar Office that covers New Natarajapuram Street 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 information.

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

When buying or selling property in Arumbakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used as a benchmark for property transactions, ensuring that the property is registered at a value that reflects its market worth.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. 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 New Natarajapuram Street?

The current guideline value of New Natarajapuram Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 577 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 767% over this period.

What is the land classification for New Natarajapuram Street?

New Natarajapuram Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price.

Where is the Kodambakkam Sub Registrar Office located?

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