Guideline Value for Nataraja Nagar

Nataraja Nagar guideline value

The current guideline value of Nataraja Nagar, located in Nasarathpettai village under the Poonamallee SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Nataraja Nagar has changed

The guideline value for Nataraja Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was later reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in the 2024 revision. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in the current guideline value of Rs 1,320 per sq.ft.

Guideline values in Nasarathpettai

Nasarathpettai has a total of 19 streets under the Poonamallee SRO that carry a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, which is the same as the guideline value for Nataraja Nagar.

• Padasalai Street: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• Periya chetti theru enkira gandhi street: Rs 1,320 per sq.ft (2024)
• Rajarathinam nagar: Rs 1,320 per sq.ft (2024)
• Kannappa Street: Rs 1,320 per sq.ft (2024)
• Sathiyamoorthy Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Nataraja Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total charges to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nataraja Nagar?

The Nataraja Nagar area falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Nasarathpettai. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must ensure that the property is registered at the guideline value or the sale price, whichever is higher.

This ensures that the transaction is legally recognized and that the appropriate taxes are collected by the government. It is advisable for potential buyers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nataraja Nagar?

The current guideline value of Nataraja Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Nataraja Nagar?

Nataraja Nagar is classified as Residential Class I Type - I.

Which office handles registrations for Nataraja Nagar?

The Poonamallee Sub Registrar Office is responsible for handling registrations in Nataraja Nagar.

How is stamp duty calculated in Nataraja Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total charge of Rs 1,18,800 for stamp duty and registration fees.