Guideline Value for Nataraj Nagar Part V

Nataraj Nagar Part V guideline value

The current guideline value of Nataraj Nagar Part V is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village and falls under the Kunrathur SRO, with a land classification of Residential Special Type - I.

How the guideline value of Nataraj Nagar Part V has changed

Looking at the historical revisions, the guideline value for Nataraj Nagar Part V has seen several changes. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, and in the latest 2024 revision, it has risen further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the current guideline value for Nataraj Nagar Part V.

• Nataraj nagar: Rs 1,650 per sq.ft (2024)
• Nadu street: Rs 1,650 per sq.ft (2024)
• Mutharamman Nagar (or) Sri Ambal Nagar II: Rs 1,650 per sq.ft (2024)
• Nidhulan Avenue: Rs 1,650 per sq.ft (2024)
• Moogambigai Nagar Annex: Rs 1,650 per sq.ft (2024)
• Moogambigai Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nataraj Nagar Part V

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Nataraj Nagar Part V?

The Sub Registrar Office covering Nataraj Nagar Part V is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kovur. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value must be considered, as it directly impacts the financial obligations of both the buyer and the seller. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nataraj Nagar Part V?

The current guideline value of Nataraj Nagar Part V is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Nataraj Nagar Part V?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Nataraj Nagar Part V?

The Kunrathur Sub Registrar Office covers Nataraj Nagar Part V, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Nataraj Nagar Part V?

The land classification for Nataraj Nagar Part V is Residential Special Type - I.