Guideline Value for Natraja Gramani Chettiar street

Natraja Gramani Chettiar street guideline value

The current guideline value of Natraja Gramani Chettiar street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Satthankadu village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Natraja Gramani Chettiar street has changed

The guideline value for Natraja Gramani Chettiar street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012, marking a rise of 417%. However, from 2012 to 2017, the value decreased to Rs 2,077 per sq.ft, a drop of 33%. The value then rose substantially to Rs 3,100 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,400 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 467%.

Guideline values in Satthankadu

In Satthankadu village, there are 71 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, which is the same as the guideline value for Natraja Gramani Chettiar street.

• New Street: Rs 3,900 per sq.ft (2024)
• North Lane: Rs 3,400 per sq.ft (2024)
• North Mada Street: Rs 3,400 per sq.ft (2024)
• North Pattai: Rs 3,400 per sq.ft (2024)
• North PRAGARAM Street: Rs 3,400 per sq.ft (2024)
• Ottravadai Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Natraja Gramani Chettiar street

For a 1,000 sq.ft plot at the current guideline value of Rs 34,00,000, the stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, totaling Rs 3,06,000. 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Natraja Gramani Chettiar street?

The Natraja Gramani Chettiar street falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Satthankadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value as it impacts the overall cost of the transaction, including taxes and fees associated with the registration process.

Frequently asked questions

What is the current guideline value of Natraja Gramani Chettiar street?

The current guideline value of Natraja Gramani Chettiar street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which office handles property registrations for Natraja Gramani Chettiar street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Natraja Gramani Chettiar street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the minimum registration value for a property, impacting the stamp duty and registration fees that buyers must pay during the transaction.