Guideline Value for Nandanar Street

Nandanar Street guideline value

The current guideline value of Nandanar Street in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Nandanar Street has changed

In the 2017 revision, the guideline value for Nandanar Street was Rs 1,675 per sq.ft. This represents a significant increase of 61% to the current value of Rs 2,700 per sq.ft in the 2024 revision. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

With the change from 2017 to 2024, Nandanar Street has seen a substantial increase in its guideline value, reflecting the current rate. The previous revisions do not provide any figures, indicating that the value remained unlisted during those years.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which is equal to the current guideline value of Nandanar Street.

• Nandanar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Nandanar Street (Vivekanandha Colony): Rs 2,700 per sq.ft (2024)
• Nakkiran Street: Rs 2,200 per sq.ft (2024)
• Narasimman Kallarai Salai: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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?

The Sub Registrar Office that covers Nandanar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodungaiyur

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in accordance with the law.

Frequently asked questions

What is the current guideline value of Nandanar Street?

The current guideline value of Nandanar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, marking a 61% increase. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Nandanar Street?

Nandanar Street is classified as Residential Class I Type - I, which indicates the type of development and usage permitted in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office is responsible for property registrations in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total cost of Rs 2,43,000 for these fees.