Guideline Value for Nanga Nallur Co-operative Housing Society Colony 11th Street

Nanga Nallur Co-operative Housing Society Colony 11th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 11th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 11th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 11th Street has seen significant changes over the years. In 2002, the guideline value was Rs 386 per sq.ft, which increased to Rs 440 per sq.ft in 2003. Following this, the value surged to Rs 1,800 per sq.ft in 2007, marking a substantial increase of 309%. The value then rose to Rs 3,500 per sq.ft in 2012, reflecting a 94% increase from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 3,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 3,900 per sq.ft, representing an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 910%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Nanga Nallur Co-operative Housing Society Colony 11th Street.

• Nanga Nallur Co-operative Housing Society Colony 10th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 12th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 13th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 14th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 15th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 16th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that the 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 Nanga Nallur Co-operative Housing Society Colony 11th Street?

The Nanga Nallur Co-operative Housing Society Colony 11th Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 11th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 11th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 386 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 910% over this period.

What is the registration fee for property transactions in this area?

The registration fee is calculated at 2% of the guideline value. For example, for a property valued at Rs 39,00,000, the registration fee would be Rs 78,000.

Where is the Sub Registrar Office located for this street?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties, which in turn affects the calculation of stamp duty and registration fees during property transactions.