Guideline Value for Nandanam Colony 3rd Street

Nandanam Colony 3rd Street guideline value

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

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

In the 2023 revision, the guideline value was Rs 13,000 per sq.ft. The latest revision in 2024 shows an increase of 10%, bringing the value to Rs 14,300 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available are from 2023 and 2024, with the significant change being the increase from Rs 13,000 to Rs 14,300 per sq.ft. This increase reflects the current valuation trends in the area.

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 guideline value for the area is Rs 8,800 per sq.ft, and Nandanam Colony 3rd Street's 2024 figure is above this median.

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

Stamp duty and registration fee for property in Nandanam Colony 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the 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, totaling Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Nandanam Colony 3rd Street?

The Nandanam Colony 3rd 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 crucial factor in the registration process of property transactions in Mylapore Part 2. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the worth of the property based on official assessments. This value is essential for calculating the applicable taxes and fees during the registration process.

Frequently asked questions

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

The current guideline value of Nandanam Colony 3rd 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 is the land classification for Nandanam Colony 3rd Street?

The land classification for Nandanam Colony 3rd Street is Residential Special Type - IV.

What are the stamp duty and registration fees for properties in this area?

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

Where can I find the Sub Registrar Office for Nandanam Colony 3rd Street?

The Sub Registrar Office covering Nandanam Colony 3rd Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.