Guideline Value for Nandanam Colony 1st Cross Street

Nandanam Colony 1st Cross Street guideline value

The current guideline value of Nandanam Colony 1st Cross Street is Rs 14,300 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 Special Type - IV.

How the guideline value of Nandanam Colony 1st Cross Street has changed

The guideline value for Nandanam Colony 1st Cross Street has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 13,000 per sq.ft, which was then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This reflects a significant change from the previous year, with the 2024 figure being the highest recorded for this street. The increase from 2023 to 2024 indicates a shift in the guideline value, aligning it with the overall trends observed in the area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with 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, making the 2024 figure for Nandanam Colony 1st Cross Street notably above this median.

• 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)
• Nandanam Colony 4th Cross Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees to Rs 12,87,000. 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 Nandanam Colony 1st Cross Street?

The Nandanam Colony 1st Cross Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For further information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is referenced to assess the transaction's legitimacy and to calculate the applicable fees. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating duties.

Frequently asked questions

What is the current guideline value of Nandanam Colony 1st Cross Street?

The current guideline value of Nandanam Colony 1st Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a 10% increase.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft.

What are the fees for registering property in Nandanam Colony 1st Cross Street?

For a property valued at Rs 1,43,00,000, the total stamp duty would be Rs 10,01,000 and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000.

Which office handles the registration for Nandanam Colony 1st Cross Street?

The Chennai Central Joint I Sub Registrar Office handles the registration for Nandanam Colony 1st Cross Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.