Guideline Value for Natarajan Avenue

Natarajan Avenue guideline value

The current guideline value of Natarajan Avenue is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Natarajan Avenue has changed

The guideline value for Natarajan Avenue has seen several revisions over the years. In 2007, the value was set at Rs 450 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,700 per sq.ft in 2023, and further increased to the current rate of Rs 2,970 per sq.ft in 2024, reflecting a 10% increase.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Mogalivakkam

Mogalivakkam village has a total of 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value is Rs 2,970 per sq.ft, which is the same as the guideline value for Natarajan Avenue.

• Nithyasri Gardens - Phase-1: Rs 4,500 per sq.ft (2024)
• Munusamy Nagar: Rs 2,970 per sq.ft (2024)
• Mm Avenue: Rs 3,600 per sq.ft (2024)
• Pallavan Nagar: Rs 2,970 per sq.ft (2024)
• Mettukuppam Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Mettukuppam: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. 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 detailed calculations.

Which Sub Registrar Office covers Natarajan Avenue?

The Sub Registrar Office that covers Natarajan Avenue 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 Mogalivakkam

The guideline value plays a crucial role in the registration process of property transactions in Mogalivakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Natarajan Avenue?

The current guideline value of Natarajan Avenue is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 560%.

What are the other streets in Mogalivakkam with similar guideline values?

Other streets in Mogalivakkam with similar guideline values include Munusamy Nagar, Pallavan Nagar, and Mettukuppam, all at Rs 2,970 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Natarajan Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would be Rs 2,67,300.

Where can I find the Sub Registrar Office for Natarajan Avenue?

The Sub Registrar Office for Natarajan Avenue is located at No.59, Road Street, Kundrathur, Chennai -600 069.