Guideline Value for Nandanam Extention 8th Street

Nandanam Extention 8th Street guideline value

The current guideline value of Nandanam Extention 8th 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 8th Street has changed

The guideline value for Nandanam Extention 8th Street has seen several revisions over the years. The register does not provide 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 increased by 10% to Rs 14,300 per sq.ft in the 2024 revision.

Prior to the 2023 revision, there were no figures available for the aforementioned years. The increase from Rs 13,000 to Rs 14,300 indicates a notable adjustment in the guideline value 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 for these streets is Rs 8,800 per sq.ft, placing Nandanam Extention 8th Street's 2024 figure above this median.

• Nandanam Extention 7th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 9th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 6th Street: Rs 14,300 per sq.ft (2024)
• Nandanam Extention 5th 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 8th 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 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 details.

Which Sub Registrar Office covers Nandanam Extention 8th Street?

Nandanam Extention 8th 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 plays a crucial role during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nandanam Extention 8th Street?

The current guideline value of Nandanam Extention 8th 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 8th Street has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, representing a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft, with the median being Rs 8,800 per sq.ft. Nandanam Extention 8th Street's value is above this median.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value or sale price.

Which office handles the registration for Nandanam Extention 8th Street?

The registration for Nandanam Extention 8th Street is handled by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.