Guideline Value for Nallur Road

Nallur Road guideline value

The current guideline value of Nallur Road is Rs 550 per sq.ft, effective from 1 July 2024. This road is located in Alamathi village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nallur Road has changed

The guideline value for Nallur Road has seen significant changes over the years. In 2003, the value was Rs 19 per sq.ft, which increased dramatically to Rs 200 per sq.ft by 2007. Following this, the value rose to Rs 500 per sq.ft in 2012, but then decreased to Rs 335 per sq.ft in 2017. The 2023 revision marked a substantial increase to Rs 500 per sq.ft, leading to the current value of Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2795%. The register has no figure for the year 2002 for this street.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft. The median value is Rs 550 per sq.ft, which means that the guideline value for Nallur Road aligns with this median.

• Munthiripalayam Road: Rs 550 per sq.ft (2024)
• Mother Therasa Garden Phase - III: Rs 550 per sq.ft (2024)
• Mother Therasa Garden: Rs 550 per sq.ft (2024)
• New Star City: Rs 550 per sq.ft (2024)
• New Star City Annex: Rs 660 per sq.ft (2024)
• Milk Depot Road: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Nallur Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000, the stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nallur Road?

The Sub Registrar Office that covers Nallur Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Alamathi. It is used to determine the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nallur Road?

The current guideline value of Nallur Road is Rs 550 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 19 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, marking an overall increase of 2795% over the years.

What is the classification of land on Nallur Road?

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

Where can I find the Sub Registrar Office for Nallur Road?

The Sub Registrar Office for Nallur Road is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, on a 1,000 sq.ft plot at the guideline value of Rs 5,50,000, the total fees would amount to Rs 49,500.