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 2 village under the Chennai Central Joint I SRO, and it falls under the land classification of 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 changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. 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.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier years. The most recent revision reflects a significant increase in the guideline value, aligning with the updated rates across the region.

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 range 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, making Nandanam Extention 8th Street's value above the 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 the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nandanam Extention 8th Street?

The Nandanam Extention 8th Street falls under 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 the property registration process in Mylapore Part 2. It serves as a reference point for determining the stamp duty and registration fees that are to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent.

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 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, which is a 10% increase.

What is the land classification for Nandanam Extention 8th Street?

Nandanam Extention 8th Street is classified as Residential Special Type - IV.

Where can I find the registration office for this area?

The registration office for Nandanam Extention 8th Street is the Chennai Central Joint I Sub Registrar Office, 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 higher of the guideline value or the sale price. For example, for a property valued at Rs 14,300 per sq.ft, the total stamp duty and registration fees can be calculated using the guideline value.