Guideline Value for Nanga Nallur Co-operative Housing Society Colony 6th Main Road

Nanga Nallur Co-operative Housing Society Colony 6th Main Road guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 6th Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Nanganallur village and falls under the Alandur SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 6th Main Road has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 6th Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 564 per sq.ft, which increased to Rs 647 per sq.ft in 2003. This marked a 15% increase. The value then saw a significant rise to Rs 1,800 per sq.ft in 2007, reflecting a 178% increase. Following this, the value decreased to Rs 5,000 per sq.ft in 2012, a drop of 33%. In 2017, the value rose again to Rs 3,350 per sq.ft, an increase of 49%. The most recent revision in 2023 set the value at Rs 5,000 per sq.ft, which increased to Rs 5,500 per sq.ft in 2024, marking a 10% rise.

There are no revision figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 875%.

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 6th Main Road is above this median.

• Nanga Nallur Co-operative Housing Society Colony 7th 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 8th Street: Rs 5,000 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 48th Street: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 9th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 6th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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. 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 6th Main Road?

The Nanga Nallur Co-operative Housing Society Colony 6th Main Road 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 is a crucial factor in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on a standardized value.

When a property is sold, the higher of the guideline value and the sale price is taken into account for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 6th Main Road?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 6th Main Road 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 seen several changes: from Rs 564 in 2002 to Rs 647 in 2003, then to Rs 1,800 in 2007, Rs 5,000 in 2012, Rs 3,350 in 2017, and finally Rs 5,000 in 2023, before reaching Rs 5,500 in 2024.

What is the land classification for this area?

The land classification for Nanga Nallur Co-operative Housing Society Colony 6th Main Road is Commercial Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,500 per sq.ft, the stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000.

Which office handles the registration for this area?

The Alandur Sub Registrar Office handles the registration for Nanga Nallur Co-operative Housing Society Colony 6th Main Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.