Guideline Value for Nanga Nallur Co-operative Housing Society Colony 18th Street

Nanga Nallur Co-operative Housing Society Colony 18th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 18th 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 18th Street has changed

The guideline value for this street has seen significant changes over the years. In 2002, the value was Rs 503 per sq.ft, which increased to Rs 571 per sq.ft in 2003, marking a 14% increase. The value continued to rise dramatically, reaching Rs 1,750 per sq.ft in 2007, a 206% increase from the previous revision. Following this, the value doubled to Rs 3,500 per sq.ft in 2012, which was a 100% increase. However, it then fell to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 3,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year. There are no figures for the years not mentioned in the register 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 value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Nanga Nallur Co-operative Housing Society Colony 18th Street.

• Nanga Nallur Co-operative Housing Society Colony 17th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 19th Street: Rs 3,900 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 15th Street: Rs 4,400 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 20th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 18th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, leading to a total of Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 18th Street?

The Nanga Nallur Co-operative Housing Society Colony 18th 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 details.

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 in Nanganallur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration. The guideline value is regularly updated, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 18th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 18th 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 503 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 675% over the years.

What is the land classification for this street?

Nanga Nallur Co-operative Housing Society Colony 18th Street is classified as Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office covering this area is the Alandur Sub Registrar Office, 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 39,00,000, the stamp duty would be calculated accordingly.