Guideline Value for Natrajan Street,Gandhi Road

Natrajan Street,Gandhi Road guideline value

The current guideline value of Natrajan Street, Gandhi Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Natrajan Street,Gandhi Road has changed

The guideline value for Natrajan Street, Gandhi Road has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 saw a further increase to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery village, 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 for these streets is Rs 4,400 per sq.ft, which is the same as the current value for Natrajan Street, Gandhi Road.

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

Stamp duty and registration fee for property in Natrajan Street,Gandhi Road

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

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Natrajan Street,Gandhi Road?

The Sub Registrar Office that covers Natrajan Street, Gandhi Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Natrajan Street, Gandhi Road?

The current guideline value for Natrajan Street, Gandhi Road 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, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Natrajan Street, Gandhi Road?

The land classification for Natrajan Street, Gandhi Road is Residential Class II Type - II.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Natrajan Street, Gandhi Road?

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