Guideline Value for Nanganallur Co-operative Housing Society Colony 1st Main Road

Nanganallur Co-operative Housing Society Colony 1st Main Road guideline value

The current guideline value of Nanganallur Co-operative Housing Society Colony 1st Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nanganallur Co-operative Housing Society Colony 1st Main Road has changed

The guideline value for Nanganallur Co-operative Housing Society Colony 1st Main Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,750 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then rose significantly to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 5,000 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003.

Between these revisions, there have been notable changes. From 2007 to 2012, the value increased by 157%. However, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and most recently, there was an 11% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 186%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median of Rs 3,900 per sq.ft. The guideline value for Nanganallur Co-operative Housing Society Colony 1st Main Road is above this median.

• Nanganallur Co-operative Housing Society Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 13th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 12th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 11th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 2nd Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 2nd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanganallur Co-operative Housing Society Colony 1st 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 would be calculated at 7%, amounting to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. Stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nanganallur Co-operative Housing Society Colony 1st Main Road?

The Nanganallur Co-operative Housing Society Colony 1st 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 information.

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

The guideline value plays a significant role during the registration process of property transactions in Adambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Nanganallur Co-operative Housing Society Colony 1st Main Road?

The current guideline value of Nanganallur Co-operative Housing Society Colony 1st 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 several times, from Rs 1,750 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 186% over the years.

What are the other streets in Adambakkam with guideline values?

Other streets in Adambakkam include Nanganallur Co-operative Housing Society Colony 1st Street, 13th Street, 12th Street, 11th Street, 2nd Main Road, and 2nd Street, with values ranging from Rs 3,900 to Rs 5,000 per sq.ft in 2024.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Nanganallur Co-operative Housing Society Colony 1st Main Road?

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