Guideline Value for Nanga Nallur Co-operative Housing Society Colony 26th Street

Nanga Nallur Co-operative Housing Society Colony 26th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 26th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 26th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 26th Street has seen several revisions over the years. Starting from the 2002 revision with a value of Rs 387 per sq.ft, it increased to Rs 440 per sq.ft in 2003. The value then rose significantly to Rs 1,800 per sq.ft in 2007, marking a change of +309%. The 2012 revision saw a decrease to Rs 4,500 per sq.ft, a drop of -33%. In 2017, the value increased again to Rs 3,015 per sq.ft, followed by a substantial rise to Rs 4,500 per sq.ft in 2023, and finally reaching Rs 5,000 per sq.ft in 2024, which is an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1192%. It is noteworthy that there are no figures available for the revisions in years not mentioned in this context.

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 26th Street is above this median.

• Nanga Nallur Co-operative Housing Society Colony 25th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 27th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 24th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 28th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 23rd Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 29th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 26th Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the 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 to Rs 4,50,000. It is important to note that the 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 26th Street?

The Nanga Nallur Co-operative Housing Society Colony 26th 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanganallur. It determines the minimum value at which the property can be registered, ensuring that the transaction is officially recorded and that the appropriate taxes are paid.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 26th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 26th 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 387 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, representing an overall increase of +1192% over this period.

What is the land classification for this street?

Nanga Nallur Co-operative Housing Society Colony 26th Street is classified as Commercial Class I Type - II.

Where can I find the registration office for this area?

The registration office covering Nanga Nallur Co-operative Housing Society Colony 26th Street 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 street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 at 7%.