Guideline Value for Nataraj nagar

Nataraj nagar guideline value

The current guideline value for Nataraj Nagar, located in Kovur village under the Kunrathur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Nataraj nagar has changed

The guideline value for Nataraj Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 708 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision raised the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 1,650 per sq.ft.

In terms of percentage changes, the value increased by 112% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, it rose by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 133%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO that carry 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 guideline value for Nataraj Nagar.

• Nataraj Nagar Part V: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total 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, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Nataraj nagar?

The Sub Registrar Office that covers Nataraj Nagar 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 plays a crucial role in property transactions in Kovur. When a property is bought or sold, the guideline value helps determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue based on the property's assessed value.

During the registration process, the guideline value is referenced to calculate the applicable fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Nataraj Nagar?

The current guideline value of Nataraj Nagar 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 seen several revisions, with the most recent increase of 10% from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. Overall, from 2007 to 2024, the value has increased by 133%.

What is the median guideline value for streets in Kovur?

The median guideline value for streets in Kovur is Rs 1,650 per sq.ft, which is the same as the guideline value for Nataraj Nagar.

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

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 office handles registrations for Nataraj Nagar?

The Kunrathur Sub Registrar Office handles registrations for Nataraj Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.