Guideline Value for Nandanam Colony main Road

Nandanam Colony main Road guideline value

The current guideline value of Nandanam Colony main Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This road 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 main Road has changed

The guideline value for Nandanam Colony main Road has undergone several revisions in recent years. The most recent revision in 2024 set the value at Rs 14,300 per sq.ft, which is an increase of 10% from the 2023 revision, where the value was Rs 13,000 per sq.ft. Prior to these revisions, the register has no figures for this street in 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. The historical revisions for this street are not available, as the register does not provide figures for the earlier years mentioned.

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, with a median value of Rs 8,800 per sq.ft. The guideline value of Nandanam Colony main Road is above this median.

• Nandanam Colony 4th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony Tower Block Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 4th Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extension Main Road: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 3rd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 10th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Colony main Road

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, bringing the total fees to 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 also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nandanam Colony main Road?

The Nandanam Colony main Road 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 is a critical factor when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is used to calculate these fees, ensuring that all parties are aware of the legal and financial implications of the transaction.

When registering a property, the guideline value helps to establish a fair price for the property in the eyes of the law. This value is essential for both buyers and sellers, as it ensures transparency and compliance with local regulations during the property transfer process.

Frequently asked questions

What is the current guideline value of Nandanam Colony main Road?

The current guideline value of Nandanam Colony main Road 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% rise.

What is the land classification for Nandanam Colony main Road?

The land classification for Nandanam Colony main Road is Residential Special Type - IV.

Where can I find the Sub Registrar Office for Nandanam Colony main Road?

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

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions, ensuring compliance with local regulations. It acts as a benchmark for determining the legal price of the property being transferred.