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 2 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

The guideline value for Nandanam Extention 15th 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. Following this, the 2024 revision increased the value by 10% to Rs 14,300 per sq.ft.

This change reflects a significant adjustment in the guideline value, moving from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. This increase indicates a shift in the valuation of properties in this area, aligning with the overall trends observed in the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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 value for these streets is Rs 8,800 per sq.ft, placing Nandanam Extention 15th Street's guideline value 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 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, making the total Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandanam Extention 15th Street?

The 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. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is an essential factor in the registration process for buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the necessary fees. 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 15th Street?

The current guideline value of Nandanam Extention 15th 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. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Nandanam Extention 15th Street?

Nandanam Extention 15th Street is classified as Residential Special Type - IV. This classification influences the guideline value and property regulations in the area.

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Nandanam Extention 15th Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Nandanam Extention 15th Street. It is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.