Guideline Value for NANDANAR STREET

Nandanar Street guideline value

The current guideline value of Nandanar 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 Nandanar Street has changed

The guideline value for Nandanar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, in the 2017 revision, it decreased to Rs 670 per sq.ft. The subsequent revision in 2023 brought the value up to Rs 1,000 per sq.ft, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft.

Between these revisions, there have been notable changes. From 2007 to 2012, there was a substantial increase of 400%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023. Finally, the increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thiruvancheri

In Thiruvancheri village, 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 for these streets is Rs 1,980 per sq.ft, making Nandanar Street's 2024 figure below that median.

• Nandanan 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 Nandanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total 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 fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nandanar Street?

Nandanar Street falls under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Thiruvancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Nandanar Street?

The current guideline value of Nandanar 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 several times, starting from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification of Nandanar Street?

Nandanar Street is classified as Residential Class III Type - I.

Where can I find the registration office for Nandanar Street?

The registration office covering Nandanar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Nandanar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 99,000.