Guideline Value for Nandanam Colony Tower Block Street

Nandanam Colony Tower Block Street guideline value

The current guideline value of Nandanam Colony Tower Block 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 street is Residential Special Type - IV.

How the guideline value of Nandanam Colony Tower Block Street has changed

According to the guideline value register, there are no figures available for Nandanam Colony Tower Block Street for the years 2002, 2003, 2007, 2012, and 2017. The revision for 2023 set the guideline value at Rs 13,000 per sq.ft, which was then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This increase reflects a notable change in the guideline value, moving from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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 value for these streets is Rs 8,800 per sq.ft, placing Nandanam Colony Tower Block Street above this median.

• Nandanam Colony main Road: Rs 14,300 per sq.ft (2024)
• Nandanam Extension Main Road: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 4th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 10th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 4th Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 11th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Colony Tower Block 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, while the registration fee at 2% would be Rs 2,86,000, totaling 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 Tower Block Street?

The Nandanam Colony Tower Block 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 1

The guideline value plays a crucial role in the registration of property transactions in Mylapore Part 1. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs incurred during the registration process. Proper understanding of these values can help in planning and budgeting for property transactions.

Frequently asked questions

What is the current guideline value for Nandanam Colony Tower Block Street?

The current guideline value for Nandanam Colony Tower Block 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 for Nandanam Colony Tower Block Street was Rs 13,000 per sq.ft in 2023 and increased by 10% to Rs 14,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

The land classification for Nandanam Colony Tower Block Street is Residential Special Type - IV, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for this street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 rate, the total guideline value is Rs 1,43,00,000, leading to significant fees that need to be considered during a property transaction.