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 2 village and is 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 seen several revisions over the years. The most recent revision in 2024 set the value at Rs 14,300 per sq.ft, which is an increase of 10% from the previous year's value of Rs 13,000 per sq.ft established in 2023. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the last recorded value was Rs 13,000 per sq.ft in 2023. The absence of figures for earlier years indicates that the guideline value has not been established for those periods. The current value reflects a significant increase from the last recorded figure, highlighting the recent adjustments made by the authorities.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 value for these streets is Rs 8,800 per sq.ft, placing Nandanam Colony 1st Cross Street's 2024 figure 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 to Rs 12,87,000. It is important to 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 details.

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. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued during the transaction.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, adhering to the regulations set by the Registration Department.

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 much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased by 10%, from Rs 13,000 per sq.ft to Rs 14,300 per sq.ft.

What is the land classification for Nandanam Colony 1st Cross Street?

The land classification for Nandanam Colony 1st Cross Street is Residential Special Type - IV.

Which registration office covers Nandanam Colony 1st Cross Street?

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

How is stamp duty calculated for properties in Nandanam Colony 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 10,01,000.