Guideline Value for NANDANAR STREET

Nandanar Street guideline value

The current guideline value of Nandanar Street in Vallur village is Rs 220 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Nandanar Street has changed

The guideline value for Nandanar Street has undergone several revisions since 2017. The 2017 revision set the value at Rs 134 per sq.ft, which increased to Rs 200 per sq.ft in the 2023 revision, marking a significant increase of 49%. The latest revision in 2024 raised the guideline value to Rs 220 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Nandanar Street in the revisions for the years 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median guideline value for these streets is Rs 220 per sq.ft, which is the same as the current guideline value for Nandanar Street.

• Muthu Mariamman Nagar: Rs 220 per sq.ft (2024)
• Mugambigai Nagar: Rs 220 per sq.ft (2024)
• Min Nagar: Rs 220 per sq.ft (2024)
• Padasalai Street: Rs 220 per sq.ft (2024)
• M.C.Raja Street: Rs 220 per sq.ft (2024)
• Pallavan Nagar: Rs 220 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 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total cost for these fees to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nandanar Street?

Nandanar Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official value set by the Registration Department. This process aids in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value for Nandanar Street?

The current guideline value for Nandanar Street is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nandanar Street has increased from Rs 134 per sq.ft in 2017 to Rs 220 per sq.ft in 2024, representing an overall increase of 64% over this period.

What are the stamp duty rates for property in Nandanar Street?

The stamp duty for property transactions in Nandanar Street is set at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What other streets in Vallur have the same guideline value?

Several other streets in Vallur share the same guideline value of Rs 220 per sq.ft as Nandanar Street, including Muthu Mariamman Nagar, Mugambigai Nagar, Min Nagar, Padasalai Street, M.C.Raja Street, and Pallavan Nagar.