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 falls under the Mylapore Part 2 village and is registered with 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

As per the register, there are no figures available for Nandanam Extention 1st Street for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 13,000 per sq.ft in 2023, 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, indicating a significant change in valuation from the previous year. The 2024 figure places this street above the median value of Rs 8,800 per sq.ft for the 332 streets in Mylapore Part 2 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

The guideline values for Mylapore Part 2 range from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft. Nandanam Extention 1st Street's 2024 guideline value of Rs 14,300 per sq.ft 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 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 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 further calculations.

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. 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 a crucial factor in determining the stamp duty and registration fees when buying or selling property in Mylapore Part 2. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the necessary fees are collected according to the established regulations.

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 has the guideline value changed over the years?

The guideline value for Nandanam Extention 1st Street was Rs 13,000 per sq.ft in 2023 and increased by 10% to Rs 14,300 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

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

The land classification for Nandanam Extention 1st Street is Residential Special Type - IV. This classification affects the guideline value and other regulatory aspects of property transactions in the area.

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

The Sub Registrar Office that covers Nandanam Extention 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Nandanam Extention 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 14,300 per sq.ft, the stamp duty would be calculated accordingly, along with a registration fee based on the guideline value.