Guideline Value for Nandanam Colony 4th Cross Street

Nandanam Colony 4th Cross Street guideline value

The current guideline value of Nandanam Colony 4th Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls 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 4th Cross Street has changed

The guideline value for Nandanam Colony 4th Cross Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 13,000 per sq.ft. This increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there are no recorded figures for the street in the earlier revisions. The substantial increase from Rs 13,000 to Rs 14,300 per sq.ft in 2024 reflects the latest adjustments 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. The median guideline value for this area is Rs 8,800 per sq.ft, making the 2024 figure for Nandanam Colony 4th Cross Street above the median.

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

Stamp duty and registration fee for property in Nandanam Colony 4th 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, making the total fees together Rs 12,87,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandanam Colony 4th Cross Street?

The Nandanam Colony 4th Cross Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit 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 in the property registration process in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and uniformity in property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value and the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Nandanam Colony 4th Cross Street?

The current guideline value for Nandanam Colony 4th Cross Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

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 4th Cross Street?

The land classification for Nandanam Colony 4th Cross Street is Residential Special Type - IV.

Which Sub Registrar Office covers this street?

The Chennai Central Joint I Sub Registrar Office covers Nandanam Colony 4th 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, for a 1,000 sq.ft plot at the current guideline value, the total fees can amount to Rs 12,87,000.