Guideline Value for NALLANNA MUDALI LANE

Nallanna Mudali Lane guideline value

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

How the guideline value of Nallanna Mudali Lane has changed

The guideline value for Nallanna Mudali Lane has seen significant changes over the years. In 2002, the value was Rs 574 per sq.ft, which increased to Rs 638 per sq.ft in 2003. Following this, the value rose dramatically to Rs 3,000 per sq.ft in 2012, but then decreased to Rs 2,010 per sq.ft in 2017. The value then surged to Rs 8,000 per sq.ft in 2023, and currently stands at Rs 8,800 per sq.ft as of the 2024 revision.

Notably, the increase from 2023 to 2024 is +10%. The change from 2017 to 2023 reflects a substantial increase of +298%. The value dropped by -33% from 2012 to 2017, while there was a remarkable increase of +370% from 2003 to 2012. The increase from 2002 to 2003 was +11%. Overall, from 2002 to 2024, the guideline value has increased by +1433%. The register has no figure for this street in 2007.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Nallanna Mudali Lane.

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

Stamp duty and registration fee for property in Nallanna Mudali Lane

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, bringing the total to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nallanna Mudali Lane?

The Sub Registrar Office that covers Nallanna Mudali Lane 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 information.

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

The guideline value plays a crucial role when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that all transactions are transparently documented. This helps maintain a standard across property dealings in the area, providing clarity for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Nallanna Mudali Lane?

The current guideline value of Nallanna Mudali Lane is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 574 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, which is an overall increase of +1433%.

What is the stamp duty for property in Nallanna Mudali Lane?

The stamp duty for property in Nallanna Mudali Lane is calculated at 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for property in Nallanna Mudali Lane?

The registration fee for property in Nallanna Mudali Lane is charged at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nallanna Mudali Lane?

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