Guideline Value for Nandanam Extention 12th Street

Nandanam Extention 12th Street guideline value

The current guideline value of Nandanam Extention 12th Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village, under the Chennai Central Joint I SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Nandanam Extention 12th Street has changed

The guideline value for Nandanam Extention 12th Street has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 13,000 per sq.ft, and in the 2024 revision, it increased to Rs 14,300 per sq.ft, marking a change of +10% from the previous year.

This street's current guideline value 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. The 2024 figures for these streets range from Rs 4,400 to Rs 25,300 per sq.ft.

Guideline values in Mylapore Part 1

Nandanam Extention 12th Street's guideline value is above the median for the area, reflecting its residential classification. Below are the guideline values for other streets in Mylapore Part 1:

• Nandanam Extention 11th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 13th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 10th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 14th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extension Main Road: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 15th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Extention 12th 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, and 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 higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandanam Extention 12th Street?

The Sub Registrar Office that covers Nandanam Extention 12th 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 in the registration process when buying or selling property in Mylapore Part 1. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nandanam Extention 12th Street?

The current guideline value of Nandanam Extention 12th 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, reflecting a +10% increase. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value for the 333 streets in Mylapore Part 1 is Rs 8,800 per sq.ft. Nandanam Extention 12th Street's current value is above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000, and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000. Duty is charged on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Nandanam Extention 12th Street?

The Sub Registrar Office for Nandanam Extention 12th Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.