Guideline Value for Nandanam Extension Main Road

Nandanam Extension Main Road guideline value

The current guideline value of Nandanam Extension 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 Extension Main Road has changed

The guideline value for Nandanam Extension Main Road has seen significant changes over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 13,000 per sq.ft, which represented a substantial increase from the previous revisions. The current 2024 revision increased this value by 10%, bringing it to Rs 14,300 per sq.ft.

In summary, the guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. This increase reflects the ongoing adjustments made in the guideline value register, which aims to keep up with the changing real estate landscape.

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 Extension Main Road's 2024 figure above this median.

• Nandanam Colony Tower Block Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 10th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony main Road: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 11th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Colony 4th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 12th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Extension Main Road

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, bringing the total fees to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nandanam Extension Main Road?

Nandanam Extension Main Road is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

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, as it determines the amount of stamp duty and registration fees that must be paid. Buyers should be aware that the guideline value is set by the government and is subject to periodic revisions to reflect market conditions.

When a property is registered, the higher amount between the guideline value and the sale price is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nandanam Extension Main Road?

The current guideline value of Nandanam Extension Main Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Nandanam Extension Main Road?

The land classification for Nandanam Extension Main Road is Residential Special Type - IV.

Where can I find the registration office for Nandanam Extension Main Road?

The registration office for Nandanam Extension Main Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. 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%.