Guideline Value for Nanga Nallur Co-operative Housing Society Colony 48th Street

Nanga Nallur Co-operative Housing Society Colony 48th Street guideline value

The current guideline value of Nanga Nallur Co-operative Housing Society Colony 48th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 48th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 48th Street has seen significant changes over the years. In 2002, the value was Rs 488 per sq.ft, which increased to Rs 554 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 216% increase. Following this, the value continued to rise to Rs 4,500 per sq.ft in 2012, a 157% increase from 2007. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33% from the previous revision. The value then increased to Rs 4,500 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 5,000 per sq.ft in 2024, which is an 11% increase.

The register has no figures for the revisions prior to 2002 or after 2024 for this street. Overall, from 2002 to 2024, the guideline value has increased by 925%.

Guideline values in Nanganallur

Nanganallur village has a range of guideline values across its 155 streets under the Alandur SRO, with figures for 2024 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 48th Street above this median.

• Nanga Nallur Co-operative Housing Society Colony 47th Street: Rs 4,400 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 46th Street: Rs 3,900 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 48th 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, charged at 7%, would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees 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 more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 48th Street?

The Nanga Nallur Co-operative Housing Society Colony 48th Street falls under the jurisdiction of 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 is a crucial factor in property transactions in Nanganallur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nanga Nallur Co-operative Housing Society Colony 48th Street?

The current guideline value of Nanga Nallur Co-operative Housing Society Colony 48th 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 significantly, starting at Rs 488 per sq.ft in 2002 and rising to Rs 5,000 per sq.ft in 2024, which is an overall increase of 925%.

What is the land classification for this street?

Nanga Nallur Co-operative Housing Society Colony 48th Street is classified as Commercial 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 48th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 at 7%.