Guideline Value for Nandanam Colony 2nd Street

Nandanam Colony 2nd Street guideline value

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

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

The guideline value for Nandanam Colony 2nd Street has undergone 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 2023 revision, where the value was Rs 13,000 per sq.ft. Prior to this, there are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value saw a significant rise from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. The previous revisions do not have recorded figures for this street, indicating a lack of data for those years.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Nandanam Colony 2nd Street's 2024 guideline value is notably above this median.

• Nandanam Colony 2nd Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 3rd Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 1st Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 3rd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 1st Cross 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 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, while the registration fee at 2% would be Rs 2,86,000, bringing the total cost 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 the stamp duty and registration fee calculator for more specific calculations based on your property details.

Which Sub Registrar Office covers Nandanam Colony 2nd Street?

Nandanam Colony 2nd Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Mylapore Part 2. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. There are no recorded figures for the revisions in the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Nandanam Colony 2nd Street?

The land classification for Nandanam Colony 2nd Street is Residential Special Type - IV.

Where can I find the Sub Registrar Office for Nandanam Colony 2nd Street?

The Sub Registrar Office covering Nandanam Colony 2nd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Nandanam Colony 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 10,01,000 at 7% of the guideline value.