Guideline Value for Natarajan Street, Muthamiaz Nagar

Natarajan Street, Muthamiaz Nagar guideline value

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

How the guideline value of Natarajan Street, Muthamiaz Nagar has changed

The guideline value for Natarajan Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,507 per sq.ft. This increased to Rs 2,250 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,475 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for Natarajan Street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value 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, placing Natarajan Street's 2024 figure above this median.

• Natarajan Street Kalayam Nagar: Rs 1,980 per sq.ft (2024)
• Natarajan Street (M) VOC Nagar: Rs 2,750 per sq.ft (2024)
• Natarajan Street / Pasumpon 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)
• Natarajan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Street, Muthamiaz 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. Together, these fees would total Rs 2,22,750. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natarajan Street, Muthamiaz Nagar?

The Natarajan Street in Muthamiaz Nagar is covered by 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 is a crucial factor during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate applicable stamp duties and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Natarajan Street, Muthamiaz Nagar?

The current guideline value of Natarajan Street, Muthamiaz 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 changed from Rs 1,507 per sq.ft in 2017 to Rs 2,250 per sq.ft in 2023, and then to Rs 2,475 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Natarajan Street?

Natarajan Street is classified as Residential Class I Type - II. This classification influences the guideline value and the type of properties that can be developed in the area.

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 is stamp duty calculated for properties in Natarajan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 24,75,000, the stamp duty at 7% would be Rs 1,73,250.