Guideline Value for Natarajan Nagar (Ward-11)

Natarajan Nagar (Ward-11) guideline value

The current guideline value for Natarajan Nagar (Ward-11) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Natarajan Nagar (Ward-11) has changed

The guideline value for Natarajan Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, followed by a further rise to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for the area is Rs 1,600 per sq.ft, indicating that Natarajan Nagar's current guideline value is below this median.

• Natarajan Nagar Extension: Rs 4,400 per sq.ft (2024)
• Natarajan Nagar: Rs 1,300 per sq.ft (2024)
• Natesan Mari St (Ward No.2): Rs 2,200 per sq.ft (2024)
• Natesan Nagar: Rs 2,200 per sq.ft (2024)
• Narayanasamy thottam (Ward No.22): Rs 1,600 per sq.ft (2024)
• Natesan Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Nagar (Ward-11)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty charged at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total fees together Rs 1,17,000. 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 precise calculations.

Which Sub Registrar Office covers Natarajan Nagar (Ward-11)?

The Sub Registrar Office that covers Natarajan Nagar (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When registering a property, the guideline value is used to calculate applicable fees such as stamp duty and registration charges. This ensures that the transaction is recorded accurately and reflects the government's valuation of the property.

Frequently asked questions

What is the current guideline value of Natarajan Nagar (Ward-11)?

The current guideline value of Natarajan Nagar (Ward-11) is Rs 1,300 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, which is higher than the current value of Natarajan Nagar.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Natarajan Nagar?

The Madhavaram Sub Registrar Office handles property registrations for Natarajan Nagar (Ward-11) and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.