Guideline Value for NANA STREET

Nana Street guideline value

The current guideline value of Nana Street in Tnagar village, under the Thiyagaraya nagar SRO, is Rs 13,200 per sq.ft, effective from 1 July 2024. This street falls under the Mixed Special Type - II land classification.

How the guideline value of Nana Street has changed

The guideline value for Nana Street has seen significant changes over the years. In the 2003 revision, the value was Rs 4,283 per sq.ft. This increased to Rs 5,500 per sq.ft in 2007, marking a rise of 28%. The value then surged by 118% to reach Rs 12,000 per sq.ft in 2012. However, it decreased by 33% in the 2017 revision to Rs 8,040 per sq.ft. Following this, the value rose sharply by 49% to Rs 12,000 per sq.ft in 2023, and finally, it increased by 10% to the current rate of Rs 13,200 per sq.ft in 2024.

It is important to note that the register has no figure for Nana Street for the year 2002. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 208%.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO with the 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, making Nana Street's 2024 figure of Rs 13,200 per sq.ft above the median.

• Nandhi Loop Street: Rs 5,500 per sq.ft (2024)
• Nageswara Rao Road: Rs 17,600 per sq.ft (2024)
• Muthurangan Salai: Rs 13,200 per sq.ft (2024)
• Muthukrishnan Street: Rs 11,000 per sq.ft (2024)
• Natesan Street: Rs 13,200 per sq.ft (2024)
• Nathamuni Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nana Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nana Street?

The Sub Registrar Office covering Nana Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value provides a benchmark that helps determine the appropriate taxes owed. Buyers and sellers should be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Nana Street?

The current guideline value of Nana Street is Rs 13,200 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 4,283 per sq.ft in 2003 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 208% over the years.

What is the land classification for Nana Street?

Nana Street is classified as Mixed Special Type - II, which influences its guideline value and usage regulations.

How do I calculate stamp duty and registration fees for property in Nana Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft property at Rs 13,200 per sq.ft would incur a total of Rs 11,88,000 in fees.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Nana Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find more information by visiting the relevant link.