Guideline Value for CROMEPET NANMANGALAM ROAD

Cromepet Nanmangalam Road guideline value

The current guideline value of Cromepet Nanmangalam Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Nanmangalam village, under the Pallavaram Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Cromepet Nanmangalam Road has changed

The guideline value for Cromepet Nanmangalam Road has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision. The register does not contain figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 10% from 2023 to 2024. The overall change from the 2007 revision to the 2024 revision is a substantial increase of 358%. The fluctuations in the guideline value reflect various market conditions and policy changes over the years.

Guideline values in Nanmangalam

Nanmangalam village has a range of guideline values, with 139 streets under the Pallavaram SRO carrying a 2024 figure ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, which is equal to the current value of Cromepet Nanmangalam Road.

• Chormpet Salai 1 To 3 Street: Rs 3,850 per sq.ft (2024)
• Chockalingam Street: Rs 1,980 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 2,750 per sq.ft (2024)
• Bramin Street: Rs 2,750 per sq.ft (2024)
• Durga Nagar: Rs 1,980 per sq.ft (2024)
• Durga Nagar 1 To 4 Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Cromepet Nanmangalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cromepet Nanmangalam Road?

The Cromepet Nanmangalam Road falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Nanmangalam. It serves as a benchmark for 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 is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Cromepet Nanmangalam Road?

The current guideline value of Cromepet Nanmangalam Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 358% over the years.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registrations for this area?

The Pallavaram Sub Registrar Office handles property registrations for Cromepet Nanmangalam Road, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the significance of the guideline value?

The guideline value is used as a reference point for property registration, ensuring that the government collects appropriate stamp duty and registration fees based on the higher of the guideline value or the sale price.