Guideline Value for Natarajan Street

Natarajan Street guideline value

The current guideline value of Natarajan Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Natarajan Street has changed

The guideline value for Natarajan Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 800 per sq.ft. This figure decreased to Rs 536 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 800 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 850 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Natarajan Street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Natarajan Street's 2024 figure of Rs 850 per sq.ft is below this median.

• Natarajan Nagar: Rs 850 per sq.ft (2024)
• Natarajan Colony: Rs 850 per sq.ft (2024)
• Navalar Street: Rs 850 per sq.ft (2024)
• Narayana layout (Vijayalakshmi Street): Rs 850 per sq.ft (2024)
• Narayana layout (Thanalakshmi Street): Rs 1,100 per sq.ft (2024)
• Namalwar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty charged at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, making the total fees together Rs 76,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Natarajan Street?

Natarajan Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value plays a critical role during the registration of property transactions in Selaiyur. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers should be aware that the guideline value is often considered the minimum value for taxation purposes.

When a property is registered, the guideline value ensures that the transaction reflects a fair value for taxation. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Natarajan Street?

The current guideline value of Natarajan Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the land classification for Natarajan Street?

Natarajan Street is classified as Residential Class V Type - I.

What are the stamp duty and registration fees for properties here?

For a 1,000 sq.ft plot valued at Rs 8,50,000, the stamp duty would be Rs 59,500, and the registration fee would be Rs 17,000, totaling Rs 76,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.