Guideline Value for Natarajan Street/Nataraja Street,

Natarajan Street/Nataraja Street, guideline value

The current guideline value of Natarajan Street/Nataraja Street in Velachery village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of Natarajan Street/Nataraja Street, has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision. However, the 2024 revision saw a significant increase to Rs 4,400 per sq.ft, marking a change of +64% from 2017 to 2024. Overall, from 2012 to 2024, there has been a +10% increase.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street. Therefore, the only revisions with recorded figures are for 2012, 2017, and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which matches the 2024 figure for Natarajan Street/Nataraja Street. Below are other streets in Velachery:

• Narmatha Street: Rs 3,850 per sq.ft (2024)
• Natesan Nagar: Rs 3,850 per sq.ft (2024)
• Natesan Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Natesan Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Natrajan Street,Gandhi Road: Rs 4,400 per sq.ft (2024)
• Nattar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Street/Nataraja Street,

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, together totaling Rs 3,96,000. It is important to note that 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 details.

Which Sub Registrar Office covers Natarajan Street/Nataraja Street,?

The Sub Registrar Office that covers Natarajan Street/Nataraja Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Velachery, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This helps in avoiding any disputes regarding the valuation of the property.

Frequently asked questions

What is the current guideline value of Natarajan Street/Nataraja Street?

The current guideline value of Natarajan Street/Nataraja Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then to Rs 4,400 per sq.ft in 2024. This represents a +64% increase from 2017 to 2024.

What is the land classification for Natarajan Street/Nataraja Street?

Natarajan Street/Nataraja Street is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Natarajan Street/Nataraja Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.