Guideline Value for Nanga Nallur Co-operative Housing Society Colony 4th Main Road

Nanga Nallur Co-operative Housing Society Colony 4th Main Road guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 4th Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This property is located in Nanganallur village, under the jurisdiction of the Alandur SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 4th Main Road has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 4th Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 535 per sq.ft, which increased to Rs 608 per sq.ft in 2003. Following this, the value saw a significant rise of 229% to reach Rs 2,000 per sq.ft in 2007. The subsequent revision in 2012 saw a decrease of 33%, bringing the value down to Rs 6,000 per sq.ft. However, in 2017, the value increased to Rs 4,020 per sq.ft, marking a 49% rise. The 2023 revision set the value at Rs 6,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 6,600 per sq.ft, reflecting a 10% rise.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,134%.

Guideline values in Nanganallur

In Nanganallur, the guideline values for 155 streets under the Alandur SRO range 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 4th Main Road is above this median.

• Nanga Nallur Co-operative Housing Society Colony 49th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 48th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 47th 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 6th Main Road: Rs 5,500 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 45th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 4th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 4th Main Road?

The Nanga Nallur Co-operative Housing Society Colony 4th Main Road falls under 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 in the registration process when buying or selling property in Nanganallur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property dealings, as the guideline value reflects the official valuation of the property.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 4th Main Road?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 4th Main Road is Rs 6,600 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 535 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 1,134% over this period.

What is the land classification for this area?

The land classification for Nanga Nallur Co-operative Housing Society Colony 4th Main Road is Commercial Special Type - I.

Where can I find the registration office for this area?

The registration office for Nanga Nallur Co-operative Housing Society Colony 4th Main Road 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 properties in this area?

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 66,00,000 would incur a stamp duty of Rs 4,62,000 at 7%.