Guideline Value for Nadesan Street

Nadesan Street guideline value

The current guideline value of Nadesan Street in Ullagaram village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Nadesan Street has changed

Since 2002, the guideline value of Nadesan Street has seen significant changes. In 2002, the value was Rs 338 per sq.ft, which increased to Rs 379 per sq.ft in 2003. Following that, the value rose dramatically to Rs 1,200 per sq.ft in 2007, marking a 217% increase. The guideline value then reached Rs 3,500 per sq.ft in 2012, a notable increase of 192%. However, it dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The value increased again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1054%. There are no figures available for any revisions prior to 2002 or after 2024 for Nadesan Street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Nadesan Street's 2024 figure above that median.

• Muthu Mugammadu Street (Muthu Nagar): Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Building Society Colony 18th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Building Society Colony 19th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 21st Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 2nd Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 3rd Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nadesan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nadesan Street?

The Sub Registrar Office that covers Nadesan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Ullagaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

When purchasing property, the guideline value is used to calculate the applicable stamp duty and registration fees. This value serves as a benchmark for both parties to agree upon, ensuring a transparent and fair transaction process.

Frequently asked questions

What is the current guideline value of Nadesan Street?

The current guideline value of Nadesan Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 338 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1054% over this period.

What is the land classification for Nadesan Street?

Nadesan Street is classified as Residential Class I Type - III, which indicates its designated use for residential purposes.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at a rate of 7%.