Guideline Value for Nanga Nallur Co-operative Housing Society Colony 42nd Street

Nanga Nallur Co-operative Housing Society Colony 42nd Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 42nd Street is Rs 3,900 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 - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 42nd Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 42nd Street has seen several revisions over the years. In 2002, the value was Rs 498 per sq.ft, which increased to Rs 566 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,800 per sq.ft in 2007, and in 2012, it reached Rs 3,500 per sq.ft. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 14%. The value surged by 218% from 2003 to 2007. The 2012 to 2017 period saw a decrease of 33%, while the 2017 to 2023 period experienced a rise of 49%. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 683%.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with the 2024 guideline values 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 of Nanga Nallur Co-operative Housing Society Colony 42nd Street.

• Nanga Nallur Co-operative Housing Society Colony 41th Street: Rs 4,400 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 40th Street: 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)
• 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 42nd Street

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, and 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 and 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 42nd Street?

The Nanga Nallur Co-operative Housing Society Colony 42nd 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 crucial factor in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies in the registration process. This ensures that all parties are compliant with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 42nd Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 42nd Street 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 significantly from Rs 498 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 683% over the years.

What is the land classification for this street?

Nanga Nallur Co-operative Housing Society Colony 42nd Street is classified as Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office for Nanga Nallur Co-operative Housing Society Colony 42nd 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 this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 2,73,000.