Guideline Value for Nandanam Colony 3rd Cross Street

Nandanam Colony 3rd Cross Street guideline value

The current guideline value of Nandanam Colony 3rd 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 land classification of Residential Special Type - IV.

How the guideline value of Nandanam Colony 3rd Cross Street has changed

The guideline value for Nandanam Colony 3rd 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 the 2023 figure of Rs 13,000 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the last recorded figure was Rs 13,000 per sq.ft in 2023. The changes in guideline value from previous revisions are not available, as the register does not contain figures for the specified years. The consistent increase from 2023 to 2024 indicates a notable adjustment in the guideline value.

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. The guideline value for Nandanam Colony 3rd Cross Street is above this median.

• Nandanam Colony 2nd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 3rd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 2nd Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 4th Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 1st Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 4th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Colony 3rd 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, resulting in a total of Rs 12,87,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nandanam Colony 3rd Cross Street?

The Nandanam Colony 3rd 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 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 plays a crucial role in the registration process of property transactions in Mylapore Part 2. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When a property is bought or sold, the guideline value is considered to determine the applicable charges, which helps maintain transparency in real estate transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Nandanam Colony 3rd Cross Street?

The current guideline value for Nandanam Colony 3rd 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 for Nandanam Colony 3rd Cross Street?

Nandanam Colony 3rd Cross Street is classified as Residential Special Type - IV.

Which Sub Registrar Office handles registrations for this area?

The Chennai Central Joint I Sub Registrar Office handles registrations for Nandanam Colony 3rd Cross Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 10,01,000.