Guideline Value for Nanga Nallur Co-operative Housing Society Colony 7th Street

Nanga Nallur Co-operative Housing Society Colony 7th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 7th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This property is located in Nanganallur village, under the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 7th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 7th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 470 per sq.ft, which increased to Rs 536 per sq.ft in 2003, marking a 14% rise. The following revisions saw significant increases, with the value reaching Rs 1,800 per sq.ft in 2007, a 236% increase from 2003. By 2012, the value was Rs 3,500 per sq.ft, reflecting a 94% increase from 2007. However, the value dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, and then increased to Rs 3,900 per sq.ft in 2024, representing an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 730%. There are no figures available for revisions in years other than those listed.

Guideline values in Nanganallur

Nanganallur village has 155 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which matches the current value for Nanga Nallur Co-operative Housing Society Colony 7th Street.

• Nanga Nallur Co-operative Housing Society Colony 8th Street: Rs 5,000 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 9th Street: Rs 3,900 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony Fifth Main Road: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony First Main Road: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 4th Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nanga Nallur Co-operative Housing Society Colony 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 7th Street?

The Nanga Nallur Co-operative Housing Society Colony 7th 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 further assistance.

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 minimum value at which a property can be registered, ensuring that all transactions are conducted at a fair price.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 7th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 7th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 470 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 730% over the years.

What are the other streets in Nanganallur and their guideline values?

Other streets in Nanganallur include Nanga Nallur Co-operative Housing Society Colony 8th Street at Rs 5,000 per sq.ft, 6th Main Road at Rs 5,500 per sq.ft, and 9th Street at Rs 3,900 per sq.ft, among others.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Nanga Nallur Co-operative Housing Society Colony 7th Street?

The registration for Nanga Nallur Co-operative Housing Society Colony 7th Street is handled by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.