Guideline Value for Nanga Nallur Co-operative Housing Society Colony 13th Street

Nanga Nallur Co-operative Housing Society Colony 13th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 13th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 13th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 13th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 380 per sq.ft, which increased significantly to Rs 433 per sq.ft in 2003, reflecting a change of +14%. Following this, the value surged to Rs 1,800 per sq.ft in 2007, marking a substantial increase of +316%. In 2012, the guideline value was revised to Rs 4,500 per sq.ft, indicating a +150% change from the previous figure. However, in 2017, it dropped to Rs 3,015 per sq.ft, which was a decrease of -33% from 2012. The value then increased to Rs 4,500 per sq.ft in 2023, followed by the current rate of Rs 5,000 per sq.ft in 2024, representing an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +1216%, reflecting the changes across the various revisions. The register does not have figures for any other years for this street.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, positioning Nanga Nallur Co-operative Housing Society Colony 13th Street above this median.

• Nanga Nallur Co-operative Housing Society Colony 14th Street: Rs 5,000 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 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)
• Nanga Nallur Co-operative Housing Society Colony 11th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 17th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 13th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. It is important to note that 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 Nanga Nallur Co-operative Housing Society Colony 13th Street?

The Nanga Nallur Co-operative Housing Society Colony 13th Street is covered by 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 plays a crucial role during property registration in Nanganallur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable fees.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal and taxation purposes. It is advisable for both buyers and sellers to familiarize themselves with the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 13th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 13th Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 380 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of +1216% over the years.

Which Sub Registrar Office is responsible for this area?

The Alandur Sub Registrar Office is responsible for Nanga Nallur Co-operative Housing Society Colony 13th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the stamp duty rates applicable for properties in this area?

The stamp duty rate for properties in Nanga Nallur Co-operative Housing Society Colony 13th Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find more information about guideline values in Nanganallur?

More information about guideline values in Nanganallur can be found in the Registration Department's guideline value register (TNReginet), which provides detailed figures for various streets in the area.