Guideline Value for Nandampakkam Colony Street

Nandampakkam Colony Street guideline value

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

How the guideline value of Nandampakkam Colony Street has changed

The guideline value for Nandampakkam Colony Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,900 per sq.ft in the 2024 revision, which is an 11% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 290%. The 2023 revision saw a 49% increase from the 2017 figure, while the jump from 2012 to 2017 was a decrease of 33%. The consistent changes in the guideline value reflect the evolving real estate landscape in the area.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO, with guideline values in 2024 ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Nandampakkam Colony Street.

• Muthu Mariyamman Street: Rs 3,300 per sq.ft (2024)
• Mount Poondamalli Road: Rs 8,300 per sq.ft (2024)
• North Mada Street: Rs 3,900 per sq.ft (2024)
• North Mada Veedhi: Rs 3,900 per sq.ft (2024)
• Mariyapuram Mada Koil First Street: Rs 3,300 per sq.ft (2024)
• Mariapuram Mada Koil 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandampakkam Colony Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty, charged at 7%, amounts to Rs 2,73,000, while the registration fee at 2% is Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nandampakkam Colony Street?

The Sub Registrar Office that covers Nandampakkam Colony Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Nandampakkam Colony Street?

The current guideline value of Nandampakkam Colony 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 several times, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024. Notable changes include an increase of 250% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000. Duty is charged on the higher of the guideline value and the sale price.

Which office handles property registration for Nandampakkam Colony Street?

The Alandur Sub Registrar Office handles property registration for Nandampakkam Colony Street. It is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Nandampakkam Colony Street?

Nandampakkam Colony Street falls under the Residential Class II Type - I land classification, which is relevant for determining its usage and guideline value.