Guideline Value for Nanganallur Co-operative Building Society Colony 6th Main Road

Nanganallur Co-operative Building Society Colony 6th Main Road guideline value

The current guideline value of Nanganallur Co-operative Building Society Colony 6th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Nanganallur Co-operative Building Society Colony 6th Main Road has changed

The guideline value for Nanganallur Co-operative Building Society Colony 6th Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 564 per sq.ft, which increased to Rs 647 per sq.ft in 2003, marking a 15% rise. By 2007, the value jumped significantly to Rs 1,300 per sq.ft, reflecting a 101% increase. The 2012 revision saw the value rise to Rs 4,500 per sq.ft, a substantial 246% increase from the previous figure. However, from 2017 to 2023, the value rose from Rs 3,015 per sq.ft to Rs 4,500 per sq.ft, marking a 49% increase. The latest revision in 2024 set the guideline value at Rs 5,000 per sq.ft, which is an 11% increase from the previous year.

There are no figures available for the revisions between 2012 and 2017 specifically for this street. Overall, from 2002 to 2024, the guideline value has increased by 787%.

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 6th Main Road is above this median.

• Nanganallur Co-Operative Building Society Colony 3rd Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 2nd Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 21st Street: Rs 3,900 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 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 6th 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 be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees together 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.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nanganallur Co-operative Building Society Colony 6th Main Road?

The Nanganallur Co-operative Building Society Colony 6th 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 Ullagaram

When buying or selling property in Ullagaram, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers ensure compliance with local regulations and accurately assess the costs associated with property transactions. It is advisable to verify the guideline value before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value for Nanganallur Co-operative Building Society Colony 6th Main Road?

The current guideline value for Nanganallur Co-operative Building Society Colony 6th 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 from Rs 564 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 787% over the years.

What is the land classification for this area?

The land classification for Nanganallur Co-operative Building Society Colony 6th Main Road is Residential Class I Type - I.

Where can I find the registration office for this property?

The registration office covering Nanganallur Co-operative Building Society Colony 6th Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in this area?

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