Guideline Value for Nanga Nallur Co-operative Housing Society Colony 37th Street Extension

Nanga Nallur Co-operative Housing Society Colony 37th Street Extension guideline value

The current guideline value of Nanga Nallur Co-operative Housing Society Colony 37th Street Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 37th Street Extension has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 37th Street Extension has seen several changes over the years. The earliest recorded value was Rs 363 per sq.ft in 2002, which increased to Rs 436 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,750 per sq.ft in 2007, marking a 301% increase. In 2012, the value adjusted to Rs 3,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The value then returned to Rs 2,345 per sq.ft in 2017, before increasing to Rs 3,500 per sq.ft in 2023, and finally reaching Rs 3,900 per sq.ft in the 2024 revision, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 974%. The revisions from the years 2017 to 2023 and 2023 to 2024 show positive changes, while the years 2012 to 2017 reflect a decrease in value. The register has no figure for the 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. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value for Nanga Nallur Co-operative Housing Society Colony 37th Street Extension.

• Nanga Nallur Co-operative Housing Society Colony 37th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 38th 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 38th Street Extension: Rs 3,900 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 39th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 37th Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 37th Street Extension?

The Nanga Nallur Co-operative Housing Society Colony 37th Street Extension 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 plays a crucial role in the registration process of property transactions in Nanganallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is the basis for calculating these fees, ensuring transparency in property transactions.

When registering a property, the guideline value must be considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Nanga Nallur Co-operative Housing Society Colony 37th Street Extension?

The current guideline value of Nanga Nallur Co-operative Housing Society Colony 37th Street Extension is Rs 3,900 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 3,900 per sq.ft in 2024, reflecting an overall increase of 974% over the years.

What is the land classification for this area?

The land classification for Nanga Nallur Co-operative Housing Society Colony 37th Street Extension is Residential Class I Type - II.

Which Sub Registrar Office handles registrations for this area?

The Alandur Sub Registrar Office handles registrations for Nanga Nallur Co-operative Housing Society Colony 37th Street Extension, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a plot of 1,000 sq.ft at the current guideline value would incur a total fee of Rs 3,51,000.