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

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

The current guideline value for Nanga Nallur Co-operative Housing Society Colony First Main Road is Rs 5,000 per sq.ft. This property is located in Nanganallur village, under the Alandur SRO, and is classified as Commercial Class I Type - II.

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

Since the 2002 revision, the guideline value has seen significant changes. The value started at Rs 519 per sq.ft in 2002 and increased to Rs 592 per sq.ft in 2003, marking a 14% rise. The value then surged to Rs 1,800 per sq.ft in 2007, reflecting a remarkable increase of 204%. Following this, the value reached Rs 4,500 per sq.ft in 2012, which was a 150% increase from the previous revision. However, it decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 4,500 per sq.ft, an increase of 49%. The most recent revision in 2024 has set the guideline value at Rs 5,000 per sq.ft, which is an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 863%.

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, placing Nanga Nallur Co-operative Housing Society Colony First Main Road above 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 9th Street: Rs 3,900 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 First 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 would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000. Together, the total cost for these fees would be Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

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

The Nanga Nallur Co-operative Housing Society Colony First Main Road falls under the jurisdiction of 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 during property transactions in Nanganallur. It determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value serves as a reference point for both buyers and sellers. It ensures that the property is valued fairly according to the prevailing rates in the area, which is essential for the registration process.

Frequently asked questions

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

The current guideline value for Nanga Nallur Co-operative Housing Society Colony First 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 519 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 863% over this period.

What is the classification of the land in Nanga Nallur Co-operative Housing Society Colony First Main Road?

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

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

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles the registration of properties in Nanga Nallur?

The Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, is responsible for property registrations in Nanga Nallur.