Guideline Value for Nanga Nallur Co-operative Housing Society Colony 39th Street

Nanga Nallur Co-operative Housing Society Colony 39th Street guideline value

The current guideline value of Nanga Nallur Co-operative Housing Society Colony 39th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 39th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 39th Street has seen several revisions over the years. In 2002, the value was Rs 490 per sq.ft, which increased to Rs 557 per sq.ft in 2003. This was followed by a significant rise to Rs 1,800 per sq.ft in 2007, and then 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, before reaching the current rate of Rs 5,000 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, there was an increase of 14%. The value surged by 223% from 2003 to 2007, followed by a 150% increase from 2007 to 2012. A decrease of 33% occurred from 2012 to 2017, and then an increase of 49% was observed from 2017 to 2023. Finally, from 2023 to 2024, the guideline value increased by 11%. Overall, from 2002 to 2024, the guideline value has risen by 920%.

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, placing Nanga Nallur Co-operative Housing Society Colony 39th Street above this median.

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

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 39th 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, bringing the total 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 39th Street?

The Nanga Nallur Co-operative Housing Society Colony 39th Street falls under the jurisdiction of the Alandur Sub Registrar Office. The office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, Chennai registration zone. 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 the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 39th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 39th 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 over the years, with the most recent increase being from Rs 4,500 per sq.ft in 2023 to Rs 5,000 per sq.ft in 2024, a rise of 11%.

What is the range of guideline values for streets in Nanganallur?

The guideline values for streets in Nanganallur range from Rs 2,800 to Rs 6,600 per sq.ft in 2024, with a median value of Rs 3,900 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, Chennai registration zone.