Guideline Value for Nanga Nallur Co-operative Housing Society Colony 40th Street

Nanga Nallur Co-operative Housing Society Colony 40th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 40th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the jurisdiction of the Alandur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 40th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 40th Street has seen significant changes over the years. In 2002, the guideline value was Rs 539 per sq.ft. It increased to Rs 612 per sq.ft in 2003, marking a 14% rise. The value continued to rise substantially, reaching Rs 1,750 per sq.ft in 2007, which was a 186% increase. By 2012, the value had reached Rs 4,500 per sq.ft, reflecting a 157% increase from 2007. However, it dropped to Rs 3,015 per sq.ft in 2017, which was a decrease of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 828%. There are no figures available for the revisions in years not mentioned in this register for this street.

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, with a median value of Rs 3,900 per sq.ft. The guideline value for Nanga Nallur Co-operative Housing Society Colony 40th Street is above this median.

• Nanga Nallur Co-operative Housing Society Colony 41th Street: Rs 4,400 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 42nd Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 43rd Street: Rs 5,500 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 44th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 40th 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 would be calculated at 7%, amounting 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. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 40th Street?

The Nanga Nallur Co-operative Housing Society Colony 40th Street 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 details.

How the guideline value is used when you buy or sell in Nanganallur

The guideline value is a crucial component in property transactions in Nanganallur. It serves as a benchmark for determining the minimum value for registration purposes, ensuring that properties are registered at a value that reflects their worth according to the government standards.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring 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 40th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 40th 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 539 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 828% over this period.

What is the land classification for Nanga Nallur Co-operative Housing Society Colony 40th Street?

The land classification for Nanga Nallur Co-operative Housing Society Colony 40th Street is Commercial Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles registrations for Nanga Nallur Co-operative Housing Society Colony 40th Street?

The Alandur Sub Registrar Office handles registrations for Nanga Nallur Co-operative Housing Society Colony 40th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.