Guideline Value for Nandanam Extention 1st Street

Nandanam Extention 1st Street guideline value

The current guideline value of Nandanam Extention 1st 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 1st Street has changed

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

Prior to the 2023 revision, there were no recorded figures for this street in the earlier years mentioned. The most recent revision reflects a significant increase compared to the previous year, indicating a shift in the guideline value.

Guideline values in Mylapore Part 1

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

• Nandanam Extention 1st Cross Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 2nd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 15th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 3rd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 14th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 4th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Extention 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees together to Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nandanam Extention 1st Street?

The Nandanam Extention 1st Street is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For more details, you can 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 is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is registered, the higher of the guideline value and the sale price is taken into account for calculating the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the locality.

Frequently asked questions

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

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

How much has the guideline value changed 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 Extention 1st Street?

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

Where can I find the Sub Registrar Office for Nandanam Extention 1st Street?

The Sub Registrar Office covering Nandanam Extention 1st Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Mylapore Part 1?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are applied during the registration process.