Guideline Value for Nanga Nallur Co-operative Housing Society Colony 24th Street

Nanga Nallur Co-operative Housing Society Colony 24th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 24th 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 24th Street has changed

The guideline value for this street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 363 per sq.ft. It increased significantly to Rs 413 per sq.ft in 2003, marking a change of +14%. The value continued to rise, reaching Rs 1,800 per sq.ft in 2007, which represented a substantial increase of +336%. In 2012, the guideline value was Rs 4,500 per sq.ft, showing a significant rise of +150% from the previous revision.

In 2017, the value dropped to Rs 3,015 per sq.ft, reflecting a decrease of -33%. However, the subsequent revisions saw an increase, with the 2023 value at Rs 4,500 per sq.ft, and the latest revision in 2024 setting the guideline value at Rs 5,000 per sq.ft, an increase of +11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +1277%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO with a guideline value for 2024 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, placing the 2024 guideline value for 24th Street above this median.

• Nanga Nallur Co-operative Housing Society Colony 23rd Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 25th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 22nd Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 26th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 21st Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 27th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 24th 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 the duty is charged on the higher of the guideline value and 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 24th Street?

The Nanga Nallur Co-operative Housing Society Colony 24th 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 information.

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

The guideline value plays a crucial role in property transactions in Nanganallur. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the property is valued correctly for legal and financial purposes. It is advisable to consult the guideline value register to obtain accurate information before proceeding with any property transaction.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 24th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 24th 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 363 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of +1277%.

What is the land classification for this street?

The land classification for Nanga Nallur Co-operative Housing Society Colony 24th Street is Commercial Class I Type - II.

Where can I find the registration office for this area?

The registration office for Nanga Nallur Co-operative Housing Society Colony 24th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 50,00,000, the total fees would amount to Rs 4,50,000.