Guideline Value for Nandanam Extention 7th Street

Nandanam Extention 7th Street guideline value

The current guideline value of Nandanam Extention 7th 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 7th Street has changed

The guideline value for Nandanam Extention 7th Street has seen several revisions over the years. The register does not contain 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 then increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there are no figures available for the aforementioned years. The most recent change from 2023 to 2024 reflects a significant increase in the guideline value, indicating a notable adjustment in property valuation for this street.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 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, and the guideline value of Nandanam Extention 7th Street is above this median.

• Nandanam Extention 6th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 8th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 5th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 9th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 4th 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 7th 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, bringing the total fees together to Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nandanam Extention 7th Street?

The Nandanam Extention 7th 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 1

The guideline value is a crucial factor during the registration process of property transactions in Mylapore Part 1. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the necessary fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nandanam Extention 7th Street?

The current guideline value of Nandanam Extention 7th 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, reflecting a 10% increase.

What is the land classification for Nandanam Extention 7th Street?

The land classification for Nandanam Extention 7th Street is Residential Special Type - IV.

Which Sub Registrar Office handles registrations for this street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Nandanam Extention 7th Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 10,01,000.