Guideline Value for NANDHI LOOP ROAD

Nandhi Loop Road guideline value

The current guideline value of Nandhi Loop Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nandhi Loop Road has changed

The guideline value for Nandhi Loop Road has seen significant changes over the years. In the 2002 revision, the value was Rs 928 per sq.ft, which increased to Rs 1,030 per sq.ft in 2003, marking an 11% rise. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, a substantial increase of 94%. By 2012, the value dropped to Rs 7,000 per sq.ft, reflecting a decrease of 250% from the previous revision. The 2017 revision saw a return to growth, with the value increasing to Rs 4,690 per sq.ft, a 49% rise. The guideline value further increased to Rs 7,000 per sq.ft in 2023, before reaching the current figure of Rs 7,700 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the years between these revisions for Nandhi Loop Road. Overall, from 2002 to 2024, the guideline value has increased by 730%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Nandhi Loop Road is above this median.

• Narasimhan Street: Rs 6,600 per sq.ft (2024)
• Nethaji Street: Rs 5,500 per sq.ft (2024)
• Mosque 4th Street: Rs 4,400 per sq.ft (2024)
• Mosque 3 Street: Rs 4,400 per sq.ft (2024)
• Mosque 2 Street: Rs 4,400 per sq.ft (2024)
• Mosque 1 Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nandhi Loop Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandhi Loop Road?

The Sub Registrar Office that covers Nandhi Loop Road 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 Mambalam

The guideline value is a crucial factor when registering a property in Mambalam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from transactions. Buyers and sellers should be aware of the guideline value to understand the financial implications during registration.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. It is essential to consider this value, as it can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nandhi Loop Road?

The current guideline value of Nandhi Loop Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 928 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 730% over this period.

What is the land classification for Nandhi Loop Road?

Nandhi Loop Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Nandhi Loop Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 77,00,000, the total fees would amount to Rs 6,93,000.

Where is the Sub Registrar Office for Nandhi Loop Road located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.