Guideline Value for Nandanam Extention 15th Street

Nandanam Extention 15th Street guideline value

The current guideline value of Nandanam Extention 15th 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 Extention 15th Street has changed

In the 2023 revision, the guideline value was Rs 13,000 per sq.ft. The 2024 revision saw an increase of 10%, bringing the current guideline value to Rs 14,300 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available are from 2023 and 2024, showing a clear upward movement in the guideline value. The increase from Rs 13,000 to Rs 14,300 reflects the latest adjustments made by the authorities.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, indicating that Nandanam Extention 15th Street's value is above this median.

• Nandanam Extention 14th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 1st Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 13th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 1st Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 12th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 2nd Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Extention 15th Street

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 to Rs 12,87,000. Please note that the 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 Extention 15th Street?

Nandanam Extention 15th Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers should ensure that they are prepared for the costs involved, including stamp duty and registration fees, based on the guideline value.

Frequently asked questions

What is the current guideline value of Nandanam Extention 15th Street?

The current guideline value of Nandanam Extention 15th Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 13,000 per sq.ft to Rs 14,300 per sq.ft, which is a 10% rise.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have 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.

Where can I find the Sub Registrar Office for Nandanam Extention 15th Street?

The Sub Registrar Office covering Nandanam Extention 15th Street is 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 guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,43,00,000 would incur a stamp duty of Rs 10,01,000 at a rate of 7%.