Guideline Value for Nanga Nallur Co-operative Housing Society Colony 38th Street Extension

Nanga Nallur Co-operative Housing Society Colony 38th Street Extension guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 38th Street Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Nanganallur village, under the jurisdiction of the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 38th Street Extension has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 38th Street Extension has undergone several revisions over the years. In 2002, the guideline value was Rs 363 per sq.ft. This increased to Rs 413 per sq.ft in 2003, reflecting a change of +14%. The value saw a significant rise to Rs 1,750 per sq.ft in 2007, marking a +324% increase. In 2012, the guideline value was Rs 3,500 per sq.ft, which was a +100% increase from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, showing a decline of -33%.

From 2017 to 2023, the guideline value rose to Rs 3,500 per sq.ft, indicating a +49% increase. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an increase of +11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +974%. There are no figures available for revisions in years not mentioned in the register.

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 is Rs 3,900 per sq.ft, which is equal to the guideline value for this street.

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

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 38th 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. Together, the total cost would be 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 38th Street Extension?

The Nanga Nallur Co-operative Housing Society Colony 38th Street Extension falls under 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 when registering property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that all parties are aware of the legal value of the property.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 38th Street Extension?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 38th 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 are the stamp duty and registration fees for this property?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers this area?

The Alandur Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 38th Street Extension, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for this street?

The land classification for Nanga Nallur Co-operative Housing Society Colony 38th Street Extension is Residential Class I Type - II.