Guideline Value for Natarajan Street (S.G.) / Muthamzhi Nagar

Natarajan Street (S.G.) / Muthamzhi Nagar guideline value

The current guideline value of Natarajan Street (S.G.) / Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Natarajan Street (S.G.) / Muthamzhi Nagar has changed

The guideline value for Natarajan Street (S.G.) / Muthamzhi Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 242 per sq.ft. This increased to Rs 274 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, which was a 31% increase from the previous revision. The 2012 revision does not have a recorded figure for this street. By 2017, the guideline value jumped to Rs 1,507 per sq.ft, reflecting a massive 319% increase from 2007. The value continued to rise, reaching Rs 2,250 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 2,475 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning Natarajan Street (S.G.) / Muthamzhi Nagar above this median.

• Natarajan Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Natarajan Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street (M) VOC Nagar: Rs 2,750 per sq.ft (2024)
• Natarajan Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Nataraj Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)
• Natarajan Street Kalayam Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Street (S.G.) / Muthamzhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost for these fees to Rs 2,22,750. 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 more information on calculating these fees.

Which Sub Registrar Office covers Natarajan Street (S.G.) / Muthamzhi Nagar?

The Sub Registrar Office that covers Natarajan Street (S.G.) / Muthamzhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role in the property registration process in Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded accurately. Buyers and sellers must consider this value when negotiating prices, as it affects the overall costs involved in the sale.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions within the region.

Frequently asked questions

What is the current guideline value of Natarajan Street (S.G.) / Muthamzhi Nagar?

The current guideline value of Natarajan Street (S.G.) / Muthamzhi Nagar is Rs 2,475 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 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 923% over this period.

What is the land classification for Natarajan Street (S.G.) / Muthamzhi Nagar?

Natarajan Street (S.G.) / Muthamzhi Nagar is classified as Residential Class I Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How do stamp duty and registration fees work in Pammal?

Stamp duty and registration fees in Pammal are calculated based on the guideline value or the sale price, whichever is higher. This ensures that property transactions are accurately recorded and that the government receives the appropriate revenue.