Guideline Value for Nanga Nallur Co-operative Housing Society Colony 41th Street

Nanga Nallur Co-operative Housing Society Colony 41th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 41th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 41th Street has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 480 per sq.ft. This increased to Rs 545 per sq.ft in 2003, marking a change of +14%. The value saw a significant rise to Rs 1,800 per sq.ft in 2007, reflecting an increase of +230%. In 2012, the guideline value was revised to Rs 4,000 per sq.ft, which was a decrease of -33% from the previous figure.

Moving forward, the guideline value rose to Rs 2,680 per sq.ft in 2017, showing an increase of +49% from the 2012 revision. The most recent revision in 2023 set the guideline value at Rs 4,000 per sq.ft, which was unchanged from 2012. As of 2024, the current guideline value stands at Rs 4,400 per sq.ft, reflecting a change of +10% from the previous year.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing the 2024 figure for Nanga Nallur Co-operative Housing Society Colony 41th Street above this median.

• Nanga Nallur Co-operative Housing Society Colony 40th Street: 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 3rd Main Road: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 44th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 45th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 41th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration would be Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 41th Street?

The Nanga Nallur Co-operative Housing Society Colony 41th 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 information.

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

The guideline value is an official rate set by the government that is used as a basis for calculating stamp duty and registration fees when buying or selling property. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This means that if the sale price is lower than the guideline value, the buyer will still need to pay stamp duty based on the guideline value.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 41th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 41th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, starting from Rs 480 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +817% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, with stamp duty at Rs 3,08,000 and registration fee at Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this area?

The Alandur Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 41th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Nanganallur?

The median guideline value in Nanganallur is Rs 3,900 per sq.ft, with the 2024 figure for Nanga Nallur Co-operative Housing Society Colony 41th Street being above this median.