Guideline Value for Nanga Nallur Co-operative Housing Society Colony 2nd Main Road

Nanga Nallur Co-operative Housing Society Colony 2nd Main Road guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 2nd Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Nanganallur village, under the Alandur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 2nd Main Road has changed

The guideline value for this street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 517 per sq.ft. By 2003, it increased to Rs 588 per sq.ft, marking a 14% rise. The value then surged dramatically to Rs 1,800 per sq.ft in 2007, reflecting a 206% increase. In 2012, it was recorded at Rs 5,000 per sq.ft, which was a 178% increase from the previous revision. However, in 2017, the value dropped to Rs 3,350 per sq.ft, showing a decline of 33%. The value rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has increased to Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 964%. The register has no figure for the years not listed in this summary.

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 of Rs 3,900 per sq.ft. The guideline value for Nanga Nallur Co-operative Housing Society Colony 2nd Main Road is above this median.

• Nanga Nallur Co-operative Housing Society Colony 29th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 30th Street: Rs 3,900 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 31st 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 32nd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 2nd Main Road?

The Nanga Nallur Co-operative Housing Society Colony 2nd Main Road 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 used as a basis for calculating the stamp duty and registration fees when a property is bought or sold in Nanganallur. It is essential to note that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate fees based on the property's value.

When registering a property, the guideline value helps in determining the official value of the property, which is crucial for legal documentation and taxation purposes. This ensures transparency in property transactions and helps maintain a standardized valuation across the region.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 2nd Main Road?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 2nd Main Road is Rs 5,500 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 517 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 964% across the revisions.

What are the other streets in Nanganallur with their guideline values?

Other streets in Nanganallur include Nanga Nallur Co-operative Housing Society Colony 29th Street at Rs 5,000 per sq.ft, 30th Street at Rs 3,900 per sq.ft, 28th Street at Rs 4,400 per sq.ft, 31st Street at Rs 4,400 per sq.ft, 27th Street at Rs 5,000 per sq.ft, and 32nd Street at Rs 3,900 per sq.ft for 2024.

Where can I find the registration office for Nanga Nallur Co-operative Housing Society Colony?

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

How is the stamp duty calculated for properties in Nanganallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, for a property valued at Rs 55,00,000, the stamp duty would be 7% of that amount, along with a registration fee of 2%.