Guideline Value for Nanga Nallur Co-operative Housing Society Colony 47th Street

Nanga Nallur Co-operative Housing Society Colony 47th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 47th 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 47th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 47th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 465 per sq.ft. It increased to Rs 528 per sq.ft in 2003, marking a 14% rise. The value then surged dramatically to Rs 1,750 per sq.ft in 2007, reflecting a 231% increase. In 2012, the value was Rs 4,000 per sq.ft, which was a decrease of 33% from the previous revision.

From 2012 to 2017, the guideline value remained at Rs 4,000 per sq.ft. However, it increased significantly to Rs 2,680 per sq.ft in 2017, a rise of 49%. The 2023 revision set the value at Rs 4,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 4,400 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 846%.

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. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Nanga Nallur Co-operative Housing Society Colony 47th Street above this median.

• Nanga Nallur Co-operative Housing Society Colony 48th Street: Rs 5,000 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 49th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 4th Main Road: Rs 6,600 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 44th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 47th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 47th Street?

The Nanga Nallur Co-operative Housing Society Colony 47th Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, contributing to local development and infrastructure.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 47th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 47th 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 changed significantly over the years, increasing from Rs 465 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 846%.

What factors influence the guideline value?

The guideline value is determined by various factors including land classification, location, and market conditions. In this case, Nanga Nallur Co-operative Housing Society Colony 47th Street falls under Residential Class I Type - I.

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

The stamp duty for a property valued at Rs 44,00,000 would be Rs 3,08,000, while the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Nanga Nallur Co-operative Housing Society Colony 47th Street?

The Sub Registrar Office covering this area is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.