Guideline Value for Nanga Nallur Co-operative Housing Society Colony 16th Street

Nanga Nallur Co-operative Housing Society Colony 16th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 16th Street is Rs 3,900 per sq.ft. 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 16th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 16th Street has seen several revisions over the years. In 2002, the guideline value was Rs 521 per sq.ft, which increased significantly to Rs 592 per sq.ft in 2003, marking a 14% rise. The value continued to climb, reaching Rs 1,800 per sq.ft in 2007, which was a substantial increase of 204%. However, from 2007 to 2012, the value decreased to Rs 3,500 per sq.ft, reflecting a drop of 33%. In 2017, the value further increased to Rs 2,345 per sq.ft, and then saw a significant jump to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 649%. There are no figures available for the years not listed in the register for this street.

Guideline values in Nanganallur

Nanganallur has a range of guideline values across its 155 streets under the Alandur SRO, with the 2024 figures ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Nanga Nallur Co-operative Housing Society Colony 16th Street.

• Nanga Nallur Co-operative Housing Society Colony 15th Street: Rs 4,400 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 14th Street: Rs 5,000 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 13th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 19th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 16th 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, while 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 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 16th Street?

The Nanga Nallur Co-operative Housing Society Colony 16th 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 further assistance.

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

The guideline value plays a crucial role 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 government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 16th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 16th 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 changed significantly, from Rs 521 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 649% over the years.

What are the registration fees applicable for property transactions?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000.

Which office handles the registration for this street?

The Alandur Sub Registrar Office is responsible for handling registrations for Nanga Nallur Co-operative Housing Society Colony 16th Street, located at 12 Ist Main Road, Nanganallur, Chennai-600061.

What is the land classification for this area?

Nanga Nallur Co-operative Housing Society Colony 16th Street is classified as Residential Class I Type - II, indicating its suitability for residential development.