Guideline Value for Natarajan Street (M) VOC Nagar

Natarajan Street (M) VOC Nagar guideline value

The current guideline value of Natarajan Street (M) VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Natarajan Street (M) VOC Nagar has changed

The guideline value for Natarajan Street (M) VOC Nagar has seen significant changes over the years. In 2002, the value was Rs 185 per sq.ft, which increased to Rs 210 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 71% increase. By 2017, the guideline value had jumped to Rs 1,675 per sq.ft, representing a 365% increase from the previous revision. The 2023 revision set the value at Rs 2,500 per sq.ft, which was a 49% increase from 2017. The most recent 2024 revision saw the guideline value rise to Rs 2,750 per sq.ft, a 10% increase from 2023.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,386%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Natarajan Street (M) VOC Nagar above this median.

• Natarajan Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Natarajan Street Kalayam Nagar: Rs 1,980 per sq.ft (2024)
• Natarajan Street (S.G.) / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Nataraj Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Street (M) VOC Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natarajan Street (M) VOC Nagar?

The Sub Registrar Office that covers Natarajan Street (M) VOC Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Natarajan Street (M) VOC Nagar?

The current guideline value of Natarajan Street (M) VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,386%.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal include Natarajan Street, Muthamiaz Nagar at Rs 2,475 per sq.ft, Natarajan Street / Pasumpon Nagar at Rs 1,980 per sq.ft, and several others, with values ranging from Rs 1,980 to Rs 2,475 per sq.ft.

What fees are associated with buying property in Natarajan Street (M) VOC Nagar?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Natarajan Street (M) VOC Nagar located?

The Sub Registrar Office for Natarajan Street (M) VOC Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.