Guideline Value for Nanga Nallur Co-operative Housing Society Colony 45th Street

Nanga Nallur Co-operative Housing Society Colony 45th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 45th Street is Rs 5,500 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 - I.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 45th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 45th Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 464 per sq.ft. This value increased to Rs 527 per sq.ft in 2003, marking a 14% rise. Subsequently, the guideline value rose significantly to Rs 1,800 per sq.ft in 2007, reflecting a 242% increase. The value then reached Rs 5,000 per sq.ft in 2012, which was a 178% increase from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, showing a decline of 33% before increasing again to Rs 5,000 per sq.ft in 2023, a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 5,500 per sq.ft, a 10% increase from the previous year.

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 45th Street is above this median.

• Nanga Nallur Co-operative Housing Society Colony 44th Street: Rs 5,000 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 46th Street: Rs 3,900 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 47th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 45th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 45th Street?

The Nanga Nallur Co-operative Housing Society Colony 45th 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 details.

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

The guideline value plays a crucial role during the registration of property transactions 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 according to government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all parties involved in the transaction are aware of the costs associated with the registration process, based on the established guideline value.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 45th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 45th Street is Rs 5,500 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 464 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1085% over the years.

What is the land classification for this area?

The land classification for Nanga Nallur Co-operative Housing Society Colony 45th Street is Commercial Class I Type - I.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 45th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would amount to Rs 3,85,000.