Guideline Value for Nandanar Street, Ramalinga Nagar Extension,

Nandanar Street, Ramalinga Nagar Extension, guideline value

The current guideline value of Nandanar Street, Ramalinga Nagar Extension, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Nandanar Street, Ramalinga Nagar Extension, has changed

The guideline value for Nandanar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the last recorded guideline value was Rs 2,500 per sq.ft in 2023. The earlier revisions do not provide any figures for Nandanar Street, indicating that the guideline values for those years were not applicable or recorded.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Nandanar Street.

• Nandanar Street: Rs 2,200 per sq.ft (2024)
• Nandan Street: Rs 1,650 per sq.ft (2024)
• Nandanar Road: Rs 2,750 per sq.ft (2024)
• Nanjil Street: Rs 2,200 per sq.ft (2024)
• Nakkeeran Street: Rs 3,850 per sq.ft (2024)
• Narayanaapuram 8th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanar Street, Ramalinga Nagar Extension,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandanar Street, Ramalinga Nagar Extension,?

The Sub Registrar Office that covers Nandanar Street, Ramalinga Nagar Extension, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is considered for calculating stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price, which helps in maintaining the integrity of property transactions in the region.

Frequently asked questions

What is the current guideline value of Nandanar Street?

The current guideline value of Nandanar Street, Ramalinga Nagar Extension, is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nandanar Street was Rs 2,500 per sq.ft in 2023, and it increased by 10% to Rs 2,750 per sq.ft in 2024. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

What are the guideline values for other streets in Madipakkam-1?

The guideline values for other streets in Madipakkam-1 vary, with rates ranging from Rs 1,650 to Rs 5,500 per sq.ft. Nandanar Street's 2024 value is equal to the median of Rs 2,750 per sq.ft.

What are the stamp duty and registration fees for properties in Nandanar Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Nandanar Street?

The Velacheri Sub Registrar Office covers Nandanar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.