Guideline Value for Nanga Nallur Co-operative Housing Society Colony 9th Street

Nanga Nallur Co-operative Housing Society Colony 9th Street guideline value

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 9th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Nanga Nallur Co-operative Housing Society Colony 9th Street has changed

The guideline value for Nanga Nallur Co-operative Housing Society Colony 9th Street has seen significant changes over the years. In 2002, the value was Rs 386 per sq.ft, which increased to Rs 440 per sq.ft in 2003. The value then rose dramatically to Rs 1,800 per sq.ft in 2007, followed by a decrease to Rs 3,500 per sq.ft in 2012. The guideline value then dropped to Rs 2,345 per sq.ft in 2017, before increasing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 saw the value rise to Rs 3,900 per sq.ft.

Between these revisions, notable changes include a 14% increase from 2002 to 2003, a 309% increase from 2003 to 2007, a 94% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 910%.

Guideline values in Nanganallur

Nanganallur village has a total of 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 9th Street is equal to this median.

• Nanga Nallur Co-operative Housing Society Colony Fifth Main Road: Rs 5,000 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 First Main Road: Rs 5,000 per sq.ft (2024)
• Nanga Nallur Co-operative Housing Society Colony 7th 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 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 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nanga Nallur Co-operative Housing Society Colony 9th Street?

The Nanga Nallur Co-operative Housing Society Colony 9th 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 more information.

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. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. It ensures that the transaction is documented accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value for Nanga Nallur Co-operative Housing Society Colony 9th Street?

The current guideline value for Nanga Nallur Co-operative Housing Society Colony 9th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 386 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 910%.

What are the registration fees based on the guideline value?

The registration fees are calculated based on the guideline value, which for a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000.

Which office handles the registration for properties in this area?

The Alandur Sub Registrar Office handles the registration for properties in Nanga Nallur Co-operative Housing Society Colony 9th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Nanga Nallur Co-operative Housing Society Colony 9th Street?

The land classification for Nanga Nallur Co-operative Housing Society Colony 9th Street is Residential Class I Type - II.