Guideline Value for First Main Road Part

First Main Road Part guideline value

The current guideline value of First Main Road Part in Nanganallur village is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Alandur Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of First Main Road Part has changed

The guideline value for First Main Road Part has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,800 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a 122% rise. However, in the 2017 revision, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The subsequent 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the latest 2024 revision has set it at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 144%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing First Main Road Part's 2024 figure above this median.

• Ganapathi Street: Rs 2,800 per sq.ft (2024)
• Gandhi Road Lane: Rs 4,400 per sq.ft (2024)
• Gandhi Street: Rs 4,400 per sq.ft (2024)
• Elangovadigal Street: Rs 3,300 per sq.ft (2024)
• Dr Ambethkar Street: Rs 4,400 per sq.ft (2024)
• Govindasamy Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in First Main Road Part

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 at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the 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 First Main Road Part?

The First Main Road Part is covered by 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 Nanganallur

The guideline value is a crucial factor in the registration process for property transactions in Nanganallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the current market valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers should ensure they are informed about the latest guideline values to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of First Main Road Part?

The current guideline value of First Main Road Part 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 1,800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

What are the stamp duty and registration fees for properties on First Main Road Part?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 3,96,000.

Where is the Alandur Sub Registrar Office located?

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

What is the median guideline value for streets in Nanganallur?

The median guideline value for the 155 streets in Nanganallur is Rs 3,900 per sq.ft, with First Main Road Part's value being above this median.