Guideline Value for NANDANAN STREET

Nandanan Street guideline value

The current guideline value of Nandanan Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Nandanan Street has changed

The guideline value for Nandanan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly in the 2023 revision to Rs 1,000 per sq.ft, followed by another increase to Rs 1,100 per sq.ft in the 2024 revision, representing a 10% rise.

There are no figures available for Nandanan Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value is Rs 1,980 per sq.ft, placing Nandanan Street's current value below this median.

• Nandanar Street: Rs 1,100 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)
• Nethaji Street: Rs 1,100 per sq.ft (2024)
• M.G.R.Street: Rs 1,980 per sq.ft (2024)
• Panchayat Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nandanan Street?

Nandanan Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your SRO, click here.

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

The guideline value is a crucial factor in property transactions in Thiruvancheri. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nandanan Street?

The current guideline value of Nandanan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Nandanan Street?

Nandanan Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nandanan Street?

The Pallavaram Sub Registrar Office, which covers Nandanan Street, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Nandanan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,100 per sq.ft would incur a total of Rs 99,000 in fees, including stamp duty and registration fees.