Guideline Value for Nanganallur Co-operative Housing Society Colony 2nd Main Road

Nanganallur Co-operative Housing Society Colony 2nd Main Road guideline value

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

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

Over the years, the guideline value for Nanganallur Co-operative Housing Society Colony 2nd Main Road has seen several revisions. Starting from the 2002 revision, the guideline value was Rs 516 per sq.ft. This increased to Rs 900 per sq.ft in 2003, marking a 74% rise. The value then continued to rise, reaching Rs 1,200 per sq.ft in 2007, which was a 33% increase from the previous revision. In 2012, the value adjusted to Rs 4,500 per sq.ft, a significant jump of 275%. The 2017 revision saw a decrease to Rs 3,015 per sq.ft, which was a 33% drop. However, the value rebounded to Rs 4,500 per sq.ft in 2023, followed by the current value of Rs 5,000 per sq.ft in 2024, reflecting an 11% increase from the previous year.

In summary, from the 2002 revision to the current 2024 revision, the overall increase in guideline value per sq.ft is 869%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Adambakkam

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

• Nanganallur Co-operative Housing Society Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 37th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 1st Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 37th Street Extn: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 3rd Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nanganallur Co-operative Housing 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, making the total fees together 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 our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Nanganallur Co-operative Housing Society Colony 2nd Main Road?

The Nanganallur Co-operative Housing Society Colony 2nd Main Road falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When purchasing property, it is essential to understand that the guideline value may differ from the actual sale price. The registration office will charge the duty based on the higher of the two values, which means that buyers should be prepared for potential costs based on the guideline value.

Frequently asked questions

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

The current guideline value for Nanganallur Co-operative Housing 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 changed significantly from Rs 516 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, an overall increase of 869% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Nanganallur Co-operative Housing Society Colony 2nd Main Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the registration office for this area?

The registration office for Nanganallur Co-operative Housing Society Colony 2nd Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Adambakkam with guideline values?

Other streets in Adambakkam include Nanganallur Co-operative Housing Society Colony 2nd Street, 37th Street, 1st Street, 1st Main Road, 37th Street Extn, and 3rd Main Road, with guideline values ranging from Rs 3,900 to Rs 5,000 per sq.ft in 2024.