Guideline Value for Natarajan Colony

Natarajan Colony guideline value

The current guideline value of Natarajan Colony, located in Selaiyur village under the Selaiyur SRO, is Rs 850 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - I land classification.

How the guideline value of Natarajan Colony has changed

The guideline value of Natarajan Colony has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it decreased to Rs 536 per sq.ft in 2017. Following this, the value rose sharply to Rs 800 per sq.ft in 2023, and most recently, it has been revised to Rs 850 per sq.ft in 2024. The register does not have figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The value then increased by 6% from 2023 to 2024. Overall, comparing the 2007 figure to the current 2024 value, there has been a substantial increase of 183%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Natarajan Colony is below this median.

• Natarajan Nagar: Rs 850 per sq.ft (2024)
• Natarajan Street: Rs 850 per sq.ft (2024)
• Narayana layout (Vijayalakshmi Street): Rs 850 per sq.ft (2024)
• Narayana layout (Thanalakshmi Street): Rs 1,100 per sq.ft (2024)
• Navalar Street: Rs 850 per sq.ft (2024)
• Namalwar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty, charged at 7%, would be Rs 59,500, while the registration fee at 2% would be Rs 17,000, bringing the total fees to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natarajan Colony?

The Sub Registrar Office that covers Natarajan Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Natarajan Colony?

The current guideline value of Natarajan Colony is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, showing an overall increase of 183% since then.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 8,50,000, leading to a stamp duty of Rs 59,500 and a registration fee of Rs 17,000, totaling Rs 76,500.

Which Sub Registrar Office covers Natarajan Colony?

The Selaiyur Sub Registrar Office covers Natarajan Colony, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Natarajan Colony?

Natarajan Colony is classified as Residential Class V Type - I, indicating its designation for residential use.