Guideline Value for Natarajan Nagar

Natarajan Nagar guideline value

The current guideline value for Natarajan Nagar is Rs 850 per sq.ft, as per the 2024 revision effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class V Type - I.

How the guideline value of Natarajan Nagar has changed

The guideline value for Natarajan Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 167% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 536 per sq.ft. The subsequent years showed a notable increase, with the value rising to Rs 800 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 established the current guideline value at Rs 850 per sq.ft, a 6% increase from 2023.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 183%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, indicating that Natarajan Nagar's 2024 figure is below this median.

• Natarajan Colony: 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 Nagar

For a 1,000 sq.ft plot at the current rate of Rs 850 per sq.ft, the guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total to Rs 76,500. 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 more details.

Which Sub Registrar Office covers Natarajan Nagar?

The Sub Registrar Office covering Natarajan Nagar 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is the minimum value set by the government for properties in a given area, which helps determine the stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Natarajan Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, marking a total increase of 183% over the years.

What are the other streets with the same guideline value in Selaiyur?

Other streets in Selaiyur with the same guideline value of Rs 850 per sq.ft in 2024 include Natarajan Colony, Natarajan Street, and Narayana layout (Vijayalakshmi Street).

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 850 per sq.ft incurs total fees of Rs 76,500.

Where is the Sub Registrar Office for Natarajan Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.