Guideline Value for Nanga Nallur Co-operative Housing Society Colony 34th Street

Nanga Nallur Co-operative Housing Society Colony 34th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 34th 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 Sub Registrar Office (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 34th Street has changed

The guideline value has undergone several revisions over the years. In 2002, the guideline value was Rs 363 per sq.ft, which increased to Rs 413 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,750 per sq.ft in 2007, and then it further increased to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023 and has now reached Rs 5,000 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1277%. Notably, there are no figures available for the years not listed in the register for this street.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO with a guideline value range from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Nanga Nallur Co-operative Housing Society Colony 34th Street above this median.

• Nanga Nallur Co-operative Housing Society Colony 33rd Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 35th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 32nd Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 36th Street: Rs 5,000 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 30th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 34th 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 amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees 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 34th Street?

The Nanga Nallur Co-operative Housing Society Colony 34th 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 a crucial factor when registering a property in Nanganallur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a recognized value.

When buying or selling property, the guideline value helps in determining the official value of the property, which is necessary for legal documentation and taxation purposes. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 34th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 34th 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 from Rs 363 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for this area?

The land classification for Nanga Nallur Co-operative Housing Society Colony 34th Street is Commercial Class I Type - II.

Where can I find the registration office for this street?

The registration office for Nanga Nallur Co-operative Housing Society Colony 34th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7% of the guideline value or sale price, whichever is higher.