Guideline Value for Nallan Street

Nallan Street guideline value

The current guideline value of Nallan Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nallan Street has changed

In the 2023 revision, the guideline value for Nallan Street was Rs 8,000 per sq.ft. The increase from 2023 to 2024 is 9%, bringing the current value to Rs 8,700 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

From the available revisions, we see a clear increase in the guideline value from Rs 8,000 in 2023 to Rs 8,700 in 2024. This change reflects the adjustments made in the guideline values in the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Nallan Street's 2024 guideline value of Rs 8,700 is below this median.

• Nandanam Colony 1st Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 1st Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 2nd Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 2nd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 3rd Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 3rd Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nallan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, together totaling Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nallan Street?

Nallan Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable at the time of registration.

Buyers and sellers must consider the guideline value as it influences the overall cost of the transaction, ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Nallan Street?

The current guideline value of Nallan Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nallan Street was Rs 8,000 per sq.ft in 2023 and has increased by 9% to Rs 8,700 in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Nallan Street?

Nallan Street is classified as Residential Class I Type - III. This classification indicates the type of development permissible in the area.

What are the other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 include Nandanam Colony 1st Cross Street, Nandanam Colony 1st Street, Nandanam Colony 2nd Cross Street, Nandanam Colony 2nd Street, Nandanam Colony 3rd Cross Street, and Nandanam Colony 3rd Street, all with a guideline value of Rs 14,300 per sq.ft in 2024.

How is stamp duty calculated for properties in Nallan Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 8,700 per sq.ft would incur a stamp duty of Rs 6,09,000.