Guideline Value for NANDHI LOOP STREET

Nandhi Loop Street guideline value

The current guideline value of Nandhi Loop Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - II.

How the guideline value of Nandhi Loop Street has changed

Since the 2002 revision, the guideline value for Nandhi Loop Street has seen significant changes. The value started at Rs 952 per sq.ft in 2002, and by 2003, it increased to Rs 1,057 per sq.ft, marking an 11% rise. The value further rose to Rs 2,000 per sq.ft in 2007, reflecting an 89% increase. In 2012, the value was recorded at Rs 5,000 per sq.ft, which was a 150% increase from the previous revision. However, it then decreased by 33% to Rs 3,350 per sq.ft in 2017.

In the subsequent revisions, the guideline value continued to rise, reaching Rs 5,000 per sq.ft in 2023, which was a 49% increase from 2017. The latest revision in 2024 has set the value at Rs 5,500 per sq.ft, showing a 10% increase from the previous year. There are no figures available for other revisions regarding this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median of Rs 11,000 per sq.ft. Nandhi Loop Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Nandhi Loop Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. 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 Nandhi Loop Street?

The Sub Registrar Office that covers Nandhi Loop 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Tnagar. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and fairness in property transactions, as the guideline value reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Nandhi Loop Street?

The current guideline value of Nandhi Loop Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 952 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 478% over this period.

What is the land classification for Nandhi Loop Street?

Nandhi Loop Street is classified as Residential Class III Type - II, which indicates its designation for residential purposes.

Where can I find the registration office for Nandhi Loop Street?

The registration office for Nandhi Loop Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Nandhi Loop Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.