Guideline Value for Nanga Nallur Co-operative Housing Society Colony 36th Street

Nanga Nallur Co-operative Housing Society Colony 36th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 36th 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 36th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 36th Street has seen several revisions over the years. In 2002, the value was Rs 480 per sq.ft, which increased to Rs 545 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,750 per sq.ft in 2007, marking an increase of 221%. The value then changed to Rs 4,500 per sq.ft in 2012, which was a decrease of 33%. In 2017, it further increased to Rs 3,015 per sq.ft, and then to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, representing an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 942%. The register has no figures for the years between 2012 and 2017, and also for the years 2017 to 2023.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that have 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 36th Street is above this median.

• Nanga Nallur Co-operative Housing Society Colony 35th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 34th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 37th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 33rd Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 37th Street Extension: Rs 3,900 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 36th 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 fees to Rs 4,50,000. 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 36th Street?

The Nanga Nallur Co-operative Housing Society Colony 36th 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 is a crucial factor in determining the registration fees when buying or selling property in Nanganallur. It serves as a benchmark for calculating the stamp duty and registration fees, which are essential for the legal transfer of property ownership.

When engaging in property transactions, it is important to be aware of the guideline value, as it can impact the total costs involved in the registration process. Buyers and sellers should ensure they are informed about the current rates to avoid any unexpected expenses during the transaction.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 36th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 36th 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 480 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing a significant increase of 942% over the years.

What is the land classification for this street?

Nanga Nallur Co-operative Housing Society Colony 36th 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 36th 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 property in Nanga Nallur?

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 would be Rs 3,50,000 at 7%.