Guideline Value for Nandanam Colony 4th Street

Nandanam Colony 4th Street guideline value

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

The guideline value for Nandanam Colony 4th Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show an increase from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a change of +10%.

Prior to the 2023 revision, the last recorded figure was Rs 13,000 per sq.ft. The 2024 revision reflects the current value, which is significantly higher than the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, the guideline values range from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. Nandanam Colony 4th Street's 2024 figure of Rs 14,300 is above this median.

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

Stamp duty and registration fee for property in Nandanam Colony 4th 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 be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. 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 further calculations.

Which Sub Registrar Office covers Nandanam Colony 4th Street?

The Sub Registrar Office that covers Nandanam Colony 4th Street is 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 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It determines the minimum value at which a property can be registered and serves as a basis for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions are recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Nandanam Colony 4th 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 changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, which is a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Nandanam Colony 4th Street?

The land classification for Nandanam Colony 4th Street is Residential Special Type - IV. This classification is important for determining the usage and regulations applicable to the property.

Where can I find the Sub Registrar Office for Nandanam Colony 4th Street?

The Sub Registrar Office for Nandanam Colony 4th Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Nandanam Colony 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000 at a rate of 7%.