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

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

The current guideline value for Nanga Nallur Co-operative Housing Society Colony Fifth Main Road is Rs 5,000 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 - II.

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

The guideline value for Nanga Nallur Co-operative Housing Society Colony Fifth Main Road has seen significant changes over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 513 per sq.ft. This increased to Rs 588 per sq.ft in 2003, marking a change of +15%. The value then rose dramatically to Rs 1,750 per sq.ft in 2007, reflecting an increase of +198%. In 2012, the value was Rs 4,500 per sq.ft, which was a decrease of -33% from the previous figure. The next revision in 2017 saw the value rise to Rs 3,015 per sq.ft, an increase of +49%. By 2023, the guideline value was Rs 4,500 per sq.ft, and the most recent revision in 2024 has set it at Rs 5,000 per sq.ft, an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +875%. There are no figures available for the revisions in other years for this street.

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. The median value for these streets is Rs 3,900 per sq.ft, and the guideline value for Nanga Nallur Co-operative Housing Society Colony Fifth Main Road is above this median.

• Nanga Nallur Co-operative Housing Society Colony 9th Street: Rs 3,900 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 8th Street: 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 Fifth Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total 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 Fifth Main Road?

The Nanga Nallur Co-operative Housing Society Colony Fifth 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 critical 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 at the time of property registration.

When a property transaction occurs, the higher value between the guideline value and the sale price is used to calculate the applicable duties and fees. This ensures that both the buyer and seller are aware of the financial obligations that arise during the registration process.

Frequently asked questions

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

The current guideline value for Nanga Nallur Co-operative Housing Society Colony Fifth Main Road 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 from Rs 513 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of +875% over the years.

What is the land classification for this street?

The land classification for Nanga Nallur Co-operative Housing Society Colony Fifth Main Road is 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 Fifth Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher value between the guideline value and the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 4,50,000.