Guideline Value for Natarajan Nagar

Natarajan Nagar guideline value

The current guideline value of Natarajan Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Natarajan Nagar has changed

The guideline value for Natarajan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision brought it up to Rs 1,300 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%, while the increase from 2023 to 2024 was 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%. This indicates fluctuations in the guideline value over the years.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Natarajan Nagar is below this median.

• Natarajan Nagar Extension: Rs 4,400 per sq.ft (2024)
• Natarajan Nagar (Ward-11): 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

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, leading to a total of Rs 1,17,000. 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 further calculations.

Which Sub Registrar Office covers Natarajan Nagar?

The Sub Registrar Office covering Natarajan Nagar 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 an essential factor during property registration in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Natarajan Nagar?

The current guideline value of Natarajan Nagar is Rs 1,300 per sq.ft, as per the 2024 revision 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 1,300 per sq.ft in 2024.

What is the land classification of Natarajan Nagar?

Natarajan Nagar is classified as Residential Class III Type - I, which is significant for property development and usage regulations.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all property registrations in the area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a property valued at Rs 13,00,000 would incur a total of Rs 1,17,000 in fees.