Guideline Value for Nanga Nallur Co-operative Housing Society Colony 44th Street

Nanga Nallur Co-operative Housing Society Colony 44th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 44th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 44th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 44th 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, marking a 14% rise. The value then surged significantly to Rs 1,800 per sq.ft in 2007, reflecting a 218% increase. Following this, in 2012, the guideline value was Rs 4,500 per sq.ft, which represented a 150% increase from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and further increased to the current rate of Rs 5,000 per sq.ft in 2024, marking an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 904%. There are no figures for the revisions in years other than those listed above.

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 44th Street is above this median.

• Nanga Nallur Co-operative Housing Society Colony 43rd Street: Rs 5,500 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 42nd Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 41th Street: Rs 4,400 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 46th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 40th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 44th 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 amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total 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.

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 44th Street?

The Nanga Nallur Co-operative Housing Society Colony 44th 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 during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the duty is calculated based on the higher of the two. This ensures that the registration process adheres to the established valuation norms set by the authorities.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 44th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 44th 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 from Rs 498 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 904% across the years.

What is the land classification for this area?

The land classification for Nanga Nallur Co-operative Housing Society Colony 44th Street is Commercial Class I Type - II.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 44th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Nanganallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 50,00,000, the stamp duty would be calculated at 7% of this amount.