Guideline Value for Nanga Nallur Co-operative Housing Society Colony 29th Street

Nanga Nallur Co-operative Housing Society Colony 29th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 29th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 29th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 29th Street has seen several revisions over the years. In 2002, the guideline value was Rs 466 per sq.ft, which increased to Rs 529 per sq.ft in 2003, marking a change of +14%. The value then experienced a significant rise to Rs 1,800 per sq.ft in 2007, an increase of +240%. Following this, the value dropped to Rs 4,500 per sq.ft in 2012, reflecting a decrease of -33%. The 2017 revision set the value at Rs 3,015 per sq.ft, which was a +49% increase from the previous figure. The guideline value further increased to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 5,000 per sq.ft, resulting in an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +973%. There are no figures available 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, with a median value of Rs 3,900 per sq.ft. The guideline value for Nanga Nallur Co-operative Housing Society Colony 29th Street is above this median.

• Nanga Nallur Co-operative Housing Society Colony 28th 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 2nd Main Road: Rs 5,500 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 25th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 30th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 29th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be 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, leading to a total of Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 29th Street?

The Nanga Nallur Co-operative Housing Society Colony 29th 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 more information.

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

The guideline value is an essential factor in property transactions in Nanganallur. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers should be aware that the guideline value is often considered the minimum value for transactions, ensuring that the property is registered at a value that reflects its worth in the eyes of the law.

When a property is sold, the guideline value serves as a benchmark for calculating the associated costs. This ensures that both parties are aware of the financial implications of the sale, including the necessary fees that must be paid to the government during the registration process.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 29th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 29th 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 466 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of +973% across the years.

What is the land classification for this area?

The land classification for Nanga Nallur Co-operative Housing Society Colony 29th Street is Commercial Class I Type - II.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in this area?

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