Guideline Value for NADU STREET

Nadu Street guideline value

The current guideline value of Nadu Street, located in Mylapore village, is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Mylapore Sub Registrar Office (SRO) and is classified as Residential Class III Type - III.

How the guideline value of Nadu Street has changed

The guideline value for Nadu Street has seen significant changes over the years. Starting from Rs 872 per sq.ft in 2002, it rose to Rs 969 per sq.ft in 2003, marking an increase of 11%. The value then surged to Rs 1,540 per sq.ft in 2007, reflecting a 59% increase. Following this, the value jumped dramatically to Rs 8,000 per sq.ft in 2012, which was a substantial increase of 419%. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 8,800 per sq.ft, representing a 64% increase from the 2017 figure.

It is important to note that there is no figure for Nadu Street in the 2023 revision. Overall, from the 2002 figure to the current 2024 figure, there has been an increase of 909% in the guideline value.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current figure for Nadu Street.

• Nadukuppam Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 8th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 7th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 6th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 5th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nadu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, resulting in a total of Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nadu Street?

The Sub Registrar Office that covers Nadu Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Nadu Street?

The current guideline value of Nadu Street is Rs 8,800 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 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting a total increase of 909% over the years.

Is there a guideline value for Nadu Street in 2023?

No, the register has no figure for Nadu Street in the 2023 revision.

What are the other streets in Mylapore with their guideline values?

Other streets in Mylapore include Nadukuppam Street, Nadukuppam 8th Street, Nadukuppam 7th Street, Nadukuppam 6th Street, Nadukuppam 5th Street, and Nadukuppam 4th Street, all with a guideline value of Rs 3,300 per sq.ft in 2024.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.