Guideline Value for NAINAN STREET

Nainan Street guideline value

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

How the guideline value of Nainan Street has changed

Over the years, the guideline value of Nainan Street has seen significant changes. The earliest recorded figure is from 2002, at Rs 1,051 per sq.ft. This increased to Rs 1,168 per sq.ft in 2003, marking an 11% rise. The next recorded revision was in 2012, where the value was Rs 8,000 per sq.ft, reflecting a substantial increase of 585% from 2003. However, in 2017, the value dropped to Rs 5,360 per sq.ft, which was a decrease of 33%. The 2023 revision saw the value rise again to Rs 8,000 per sq.ft, and the latest revision in 2024 has set it at Rs 8,800 per sq.ft, a 10% increase from the previous year. The register has no figure for the year 2007.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values 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 the same as the current figure for Nainan Street.

• Nainar Nadar Street: Rs 4,900 per sq.ft (2024)
• Nainiappan Street: Rs 13,200 per sq.ft (2024)
• Nageswarapuram: Rs 8,800 per sq.ft (2024)
• Nallanna Mudali Lane: Rs 8,800 per sq.ft (2024)
• Nallanna Mudali Street: Rs 8,800 per sq.ft (2024)
• Nallappan Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nainan Street

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

Which Sub Registrar Office covers Nainan Street?

The Sub Registrar Office that covers Nainan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Nainan Street?

The current guideline value of Nainan 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 1,051 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, with various revisions in between.

What is the median guideline value in Mylapore?

The median guideline value in Mylapore is Rs 8,800 per sq.ft, which is the same as the current value for Nainan Street.

What are the stamp duty and registration fees for property in Nainan Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000, and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where is the Sub Registrar Office for Nainan Street located?

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