Guideline Value for Nanganallur Co-Operative Building Society Colony 2nd Main Road

Nanganallur Co-Operative Building Society Colony 2nd Main Road guideline value

The current guideline value for Nanganallur Co-Operative Building Society Colony 2nd Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This property is located in Ullagaram village under the Alandur SRO and is classified as Residential Class I Type - I.

How the guideline value of Nanganallur Co-Operative Building Society Colony 2nd Main Road has changed

The guideline value for this street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 516 per sq.ft. It increased to Rs 588 per sq.ft in 2003, marking a 14% rise. The next significant jump occurred in 2007, where the value rose to Rs 1,750 per sq.ft, reflecting a 198% increase. In 2012, the value was revised to Rs 4,500 per sq.ft, which was a substantial 157% increase from the previous figure. However, in 2017, the value dropped to Rs 3,015 per sq.ft, showing a decrease of 33%.

In 2023, the guideline value was set at Rs 4,500 per sq.ft, and the latest revision in 2024 saw it rise to Rs 5,000 per sq.ft, an increase of 11%. Overall, from 2002 to 2024, the guideline value has increased by 869% for Nanganallur Co-Operative Building Society Colony 2nd Main Road.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value for Nanganallur Co-Operative Building Society Colony 2nd Main Road is above this median.

• Nanganallur Co-Operative Building Society Colony 21st Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 3rd Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-operative Building Society Colony 19th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Building Society Colony 6th Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-operative Building Society Colony 18th Street: Rs 3,900 per sq.ft (2024)
• Narmadha Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nanganallur Co-Operative Building Society Colony 2nd 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, 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 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 information.

Which Sub Registrar Office covers Nanganallur Co-Operative Building Society Colony 2nd Main Road?

The Nanganallur Co-Operative Building Society Colony 2nd 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 details.

How the guideline value is used when you buy or sell in Ullagaram

The guideline value plays a critical role during the registration of property transactions in Ullagaram. It is the benchmark used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The higher of the guideline value or the sale price will be considered for calculating these fees.

When purchasing property, buyers should be aware that the guideline value is set by the government and can vary between different streets. It is essential to check the current guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value for Nanganallur Co-Operative Building Society Colony 2nd Main Road?

The current guideline value for Nanganallur Co-Operative Building Society Colony 2nd 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 increased from Rs 516 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 869% over this period.

What is the registration office for Nanganallur Co-Operative Building Society Colony 2nd Main Road?

The registration office covering this area is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for property in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 at a rate of 7%.

What are the guideline values for other streets in Ullagaram?

Other streets in Ullagaram have varying guideline values. For example, Nanganallur Co-Operative Building Society Colony 21st Street has a value of Rs 3,900 per sq.ft, while both Nanganallur Co-Operative Building Society Colony 3rd Main Road and 6th Main Road have a value of Rs 5,000 per sq.ft in 2024.