Guideline Value for Natarajan Street

Natarajan Street guideline value

The current guideline value of Natarajan Street in Saligramam village, under the Virugambakkam SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Natarajan Street has changed

The guideline value for Natarajan Street has seen several revisions over the years. Starting from Rs 808 per sq.ft in 2002, the value increased to Rs 1,050 in 2003, followed by a slight rise to Rs 1,100 in 2007. A significant jump occurred in 2012, where the value reached Rs 3,500 per sq.ft. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 in 2023 and then to Rs 3,850 in 2024, marking a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 376%. The register has no figures for the years not listed above.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that Natarajan Street's 2024 figure is below this median.

• Nathan Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Nallan Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar Sastri Street: Rs 4,400 per sq.ft (2024)
• Nagathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Nagappan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Natarajan Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please 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?

The Sub Registrar Office that covers Natarajan Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Natarajan Street?

The current guideline value of Natarajan Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 808 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 376% over this period.

What is the land classification of Natarajan Street?

Natarajan Street is classified under Residential Class II Type - II land classification.

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

Other streets in Saligramam include Nathan Street at Rs 3,850 per sq.ft, Nehru Nagar Main Road at Rs 4,400 per sq.ft, and several others with varying rates.

Where is the Sub Registrar Office for Natarajan Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.