Guideline Value for Loyola College Compound Rd

Loyola College Compound Rd guideline value

The current guideline value of Loyola College Compound Rd is Rs 11,500 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Special Type - V.

How the guideline value of Loyola College Compound Rd has changed

The guideline value for Loyola College Compound Rd has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 4,700 per sq.ft. This increased significantly to Rs 10,500 per sq.ft in 2012, marking a rise of 123%. However, it then decreased to Rs 7,035 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 10,500 per sq.ft in 2023, followed by another increase to Rs 11,500 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 145%, reflecting the changes in the market over these years.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Loyola College Compound Rd's 2024 figure above this median.

• Loyola College Hostel: Rs 10,400 per sq.ft (2024)
• Madhavan Nair 1st Cross Street: Rs 8,800 per sq.ft (2024)
• Madhavan Nair Road: Rs 11,500 per sq.ft (2024)
• Mahalingam Chetty Road: Rs 10,400 per sq.ft (2024)
• Mahalingam Chetty Street: Rs 10,400 per sq.ft (2024)
• Mahalingam Colony Layout: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Loyola College Compound Rd

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Loyola College Compound Rd?

The Sub Registrar Office that covers Loyola College Compound Rd is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nungambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the overall cost of the transaction. Buyers and sellers should factor in these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value for Loyola College Compound Rd?

The current guideline value for Loyola College Compound Rd is Rs 11,500 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 4,700 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 145% over the period.

What is the land classification for Loyola College Compound Rd?

The land classification for Loyola College Compound Rd is Commercial Special Type - V.

What are the stamp duty rates for property transactions?

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

Where is the Sub Registrar Office located?

The Sub Registrar Office for Loyola College Compound Rd is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.