Guideline Value for Nandanam Colony 2nd Cross Street

Nandanam Colony 2nd Cross Street guideline value

The current guideline value of Nandanam Colony 2nd Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Special Type - IV land classification.

How the guideline value of Nandanam Colony 2nd Cross Street has changed

The guideline value for Nandanam Colony 2nd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 14,300 per sq.ft, reflecting a 10% increase from Rs 13,000 per sq.ft in the previous 2023 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the only available figures are from the 2023 and 2024 revisions. The increase from 2023 to 2024 indicates a shift in the guideline value, but no data is available for the earlier years mentioned.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value 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 Nandanam Colony 2nd Cross Street's value above this median.

• Nandanam Colony 1st Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 2nd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 1st Cross 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 2nd 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 would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000, bringing the total charges 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.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandanam Colony 2nd Cross Street?

The Nandanam Colony 2nd 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 additional assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 2. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Nandanam Colony 2nd Cross Street?

The current guideline value of Nandanam Colony 2nd Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

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

What is the land classification of Nandanam Colony 2nd Cross Street?

Nandanam Colony 2nd Cross Street is classified as Residential Special Type - IV.

Where can I find the registration office for Nandanam Colony 2nd Cross Street?

The registration office for Nandanam Colony 2nd Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000.