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

Nanganallur Co-operative Housing Society Colony 1st Street guideline value

The current guideline value of Nanganallur Co-operative Housing Society Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

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

Over the years, the guideline value for Nanganallur Co-operative Housing Society Colony 1st Street has seen several revisions. In 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 180%. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The current value is Rs 3,900 per sq.ft as of the 2024 revision, showing an increase of 11% from the previous year.

The register does not provide figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 212%.

Guideline values in Adambakkam

Adambakkam has a total of 569 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, which is the same as the current value for Nanganallur Co-operative Housing Society Colony 1st Street.

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

Stamp duty and registration fee for property in Nanganallur Co-operative Housing Society Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value is Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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

The Nanganallur Co-operative Housing Society Colony 1st Street 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 Adambakkam

The guideline value is a crucial factor in property transactions in Adambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings in the area.

Frequently asked questions

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

The current guideline value of Nanganallur Co-operative Housing Society Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 212% over these years.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for this area?

The Alandur Sub Registrar Office handles the registration for Nanganallur Co-operative Housing Society Colony 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum registration value for properties, which affects the stamp duty and registration fees during transactions. It ensures compliance with local regulations in property dealings.