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 2 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

How the guideline value of Nallan Street has changed

The guideline value for Nallan Street has seen revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft, and in the 2024 revision, it increased to Rs 8,700 per sq.ft, reflecting a change of +9% from the previous year.

In summary, the only available revisions for Nallan Street are from 2023 and 2024. The current guideline value of Rs 8,700 per sq.ft is a notable increase from the previous value of Rs 8,000 per sq.ft.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Nallan Street's 2024 figure 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 would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nallan Street?

The Sub Registrar Office that covers Nallan Street is 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 details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is assessed to calculate the applicable duties and fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the transaction is fairly evaluated.

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 recently?

In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

What are the guideline values for other streets in Mylapore Part 2?

Other streets in Mylapore Part 2 have a range of guideline values from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft.

What is the stamp duty rate for properties in Nallan Street?

The stamp duty rate for properties in Nallan Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nallan Street?

The Sub Registrar Office for Nallan Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.