Guideline Value for Nandanam Extention 5th Street

Nandanam Extention 5th Street guideline value

The current guideline value for Nandanam Extention 5th 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 5th Street has changed

The guideline value for Nandanam Extention 5th Street has undergone several revisions over the years. The register has no figure for this street from the years 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was Rs 13,000 per sq.ft, which increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

This change reflects the updated valuation as of July 2024. The increase from Rs 13,000 to Rs 14,300 indicates a significant adjustment in the guideline value for this street, aligning it with other streets in the vicinity.

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 guideline value in this area is Rs 8,800 per sq.ft, making Nandanam Extention 5th Street's 2024 figure above the median.

• Nandanam Extention 4th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 6th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 3rd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 7th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 2nd Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 8th Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanam Extention 5th 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, making the total fees together Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nandanam Extention 5th Street?

Nandanam Extention 5th 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 information, you can find your SRO.

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 a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the property transaction process. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nandanam Extention 5th Street?

The current guideline value of Nandanam Extention 5th Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value changed 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 5th Street?

The land classification for Nandanam Extention 5th Street is Residential Special Type - IV.

Which office handles the registration for properties in this area?

The Chennai Central Joint I Sub Registrar Office handles the registration for properties in Nandanam Extention 5th Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.