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

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

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 37th 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 it falls under the Commercial Class I Type - II land classification.

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

The guideline value for Nanga Nallur Co-operative Housing Society Colony 37th Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 376 per sq.ft. This increased to Rs 429 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 1,750 per sq.ft in 2007, representing an increase of +308%. Following this, the value saw another substantial rise to Rs 4,500 per sq.ft in 2012, with a change of +157%. However, there was a decrease to Rs 3,015 per sq.ft in 2017, which was a drop of -33%. The value then increased again to Rs 4,500 per sq.ft in 2023, followed by the latest revision to Rs 5,000 per sq.ft in 2024, reflecting an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1230%. There are no figures available for the revisions of years not listed, ensuring that the stated figures are the only ones relevant to this street.

Guideline values in Nanganallur

In Nanganallur village, 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 guideline value for these streets is Rs 3,900 per sq.ft, making the current guideline value for Nanga Nallur Co-operative Housing Society Colony 37th Street above this median.

• Nanga Nallur Co-operative Housing Society Colony 37th Street Extension: 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 35th Street: Rs 4,400 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 34th 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)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 37th 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, totaling 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 also use the stamp duty and registration fee calculator for further calculations.

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

The Nanga Nallur Co-operative Housing Society Colony 37th 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 critical factor during the registration process of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it may influence negotiations and the final sale price. Buyers should be aware that the guideline value can affect their financial obligations, including stamp duty and registration fees, which are calculated based on this value.

Frequently asked questions

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

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 37th 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 376 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of +1230% over this period.

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

Other streets in Nanganallur have varying guideline values, with some streets such as 36th Street and 34th Street also at Rs 5,000 per sq.ft in 2024, while others like 37th Street Extension are at Rs 3,900 per sq.ft.

What is the registration office for Nanga Nallur Co-operative Housing Society Colony 37th Street?

The registration office for Nanga Nallur Co-operative Housing Society Colony 37th 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 properties in Nanganallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value of Rs 5,000 per sq.ft, the stamp duty would be calculated accordingly during the registration process.