Guideline Value for Co-operative Nagar

Co-operative Nagar guideline value

The current guideline value of Co-operative Nagar, located in Adambakkam village under the Alandur SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Co-operative Nagar has changed

The guideline value for Co-operative Nagar has seen significant changes over the years. In 2002, the value was Rs 282 per sq.ft, which increased to Rs 322 per sq.ft in 2003. This was a rise of 14%. Following that, the value surged dramatically to Rs 1,693 per sq.ft in 2007, marking a 426% increase. The value then rose to Rs 4,500 per sq.ft in 2012, reflecting a 166% increase. However, it decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, which was a 49% rise, and finally reached Rs 5,000 per sq.ft in 2024, an increase of 11%.

There are no figures available for the revisions prior to 2002 or any years without a specified figure for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Co-operative Nagar's 2024 figure above this median.

• Citylink Road: Rs 5,500 per sq.ft (2024)
• Daniel Street: Rs 3,900 per sq.ft (2024)
• Devaraja Puram: Rs 3,900 per sq.ft (2024)
• Chidambaranar Street: Rs 3,900 per sq.ft (2024)
• Chidambaranar 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Chidambaranar 1st Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Co-operative Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Co-operative Nagar?

The Sub Registrar Office that covers Co-operative Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Co-operative Nagar?

The current guideline value of Co-operative Nagar is Rs 5,000 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 282 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1,673% over the years.

What are the stamp duty rates for property in Co-operative Nagar?

The stamp duty for property transactions in Co-operative Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Co-operative Nagar?

The Sub Registrar Office for Co-operative Nagar is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, with Co-operative Nagar's 2024 figure being above this median.