Guideline Value for Nanga Nallur Co-operative Housing Society Colony 15th Street

Nanga Nallur Co-operative Housing Society Colony 15th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 15th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Residential Class I Type - I.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 15th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 15th Street has seen significant changes over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 363 per sq.ft. This increased to Rs 413 per sq.ft in 2003, marking a 14% rise. The value then surged dramatically to Rs 1,800 per sq.ft in 2007, a staggering increase of 336%. In 2012, the guideline value was recorded at Rs 4,000 per sq.ft, reflecting a decrease of 33% from the previous revision.

From 2017 to 2023, the guideline value rose from Rs 2,680 per sq.ft to Rs 4,000 per sq.ft, an increase of 49%. The current revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, there has been a substantial increase of 1,112% in the guideline value for this street.

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 guideline value for these streets is Rs 3,900 per sq.ft, placing Nanga Nallur Co-operative Housing Society Colony 15th 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 16th 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 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)
• Nanga Nallur Co-operative Housing Society Colony 12th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 15th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 15th Street?

The Nanga Nallur Co-operative Housing Society Colony 15th 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. To find your nearest SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly affect the overall cost of the transaction. It is essential for both parties involved in the transaction to understand how the guideline value impacts their financial obligations.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 15th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 15th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with an increase from Rs 363 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 1,112%.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for this street?

The Alandur Sub Registrar Office is responsible for handling registrations for Nanga Nallur Co-operative Housing Society Colony 15th Street, located at 12 Ist Main Road, Nanganallur.

What is the land classification for this street?

Nanga Nallur Co-operative Housing Society Colony 15th Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.