Guideline Value for Nandanam Extention 1st Cross Street

Nandanam Extention 1st Cross Street guideline value

The current guideline value for Nandanam Extention 1st Cross 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 1st Cross Street has changed

The guideline value for Nandanam Extention 1st Cross Street has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This increase reflects the adjustments made in the guideline value register, with the most recent figure being significantly higher than the previous year's value. The 2024 revision marks a notable change in the valuation of this street.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Nandanam Extention 1st Cross Street's 2024 figure above the median.

• Nandanam Extention 15th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 1st Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 14th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 2nd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 13th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 3rd Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Extention 1st Cross 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, resulting in a total of Rs 12,87,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nandanam Extention 1st Cross Street?

The Sub Registrar Office covering Nandanam Extention 1st Cross 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It serves as the baseline for calculating stamp duty and registration fees, ensuring that both the buyer and seller adhere to the legal requirements set by the Registration Department.

When buying or selling property, the guideline value helps to determine the official value of the property, which is essential for the registration process. This value is used to assess the applicable taxes and fees, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nandanam Extention 1st Cross Street?

The current guideline value of Nandanam Extention 1st Cross Street 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, reflecting a 10% increase.

What is the land classification for Nandanam Extention 1st Cross Street?

The land classification for Nandanam Extention 1st Cross Street is Residential Special Type - IV.

Which office handles registrations for properties in this area?

The Chennai Central Joint I Sub Registrar Office handles registrations for properties in Nandanam Extention 1st Cross Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This calculation is essential for determining the total costs involved in property transactions.