Guideline Value for Nanga Nallur Co-operative Housing Society Colony 14th Street

Nanga Nallur Co-operative Housing Society Colony 14th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 14th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 14th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 14th Street has seen significant changes over the years. In 2002, the value was Rs 380 per sq.ft, which increased to Rs 432 per sq.ft in 2003, reflecting a change of +14%. The value then surged to Rs 1,800 per sq.ft in 2007, marking a substantial increase of +317%. Following this, the guideline value rose to Rs 4,500 per sq.ft in 2012, representing a +150% change. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of -33%. The value increased again to Rs 4,500 per sq.ft in 2023 and finally reached the current figure of Rs 5,000 per sq.ft in 2024, which is an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +1216%. There are no figures available for revisions in the years not mentioned in the provided data.

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, with a median value of Rs 3,900 per sq.ft. The guideline value for Nanga Nallur Co-operative Housing Society Colony 14th Street is above this median.

• Nanga Nallur Co-operative Housing Society Colony 13th 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)
• Nanga Nallur Co-operative Housing Society Colony 12th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 17th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 18th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, bringing the total 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 14th Street?

The Nanga Nallur Co-operative Housing Society Colony 14th 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 in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared to the sale price. The duty is charged based on the higher of the two values, ensuring that the appropriate fees are collected. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 14th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 14th 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, starting from Rs 380 per sq.ft in 2002 and increasing to Rs 5,000 per sq.ft in 2024. The overall increase from 2002 to 2024 is +1216%.

What is the land classification for this street?

Nanga Nallur Co-operative Housing Society Colony 14th Street is classified as Commercial Class I Type - II.

Which Sub Registrar Office is responsible for this area?

The Alandur Sub Registrar Office is responsible for Nanga Nallur Co-operative Housing Society Colony 14th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 at 7%, along with a registration fee of Rs 1,00,000 at 2%.