Guideline Value for Nanganallur Co-operative Housing Society Colony 3rd Street

Nanganallur Co-operative Housing Society Colony 3rd Street guideline value

The current guideline value for Nanganallur Co-operative Housing Society Colony 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nanganallur Co-operative Housing Society Colony 3rd Street has changed

The guideline value for Nanganallur Co-operative Housing Society Colony 3rd Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,250 per sq.ft. This rose significantly to Rs 3,500 per sq.ft in 2012, followed by a drop to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 for this street.

Between these revisions, the changes are as follows: from 2007 to 2012, there was an increase of 180%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 11%. Overall, from 2007 to 2024, the guideline value has increased by 212%.

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. The median value is Rs 3,900 per sq.ft, which matches the guideline value for Nanganallur Co-operative Housing Society Colony 3rd Street.

• Nanganallur Co-operative Housing Society Colony 3rd 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 37th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 5th 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would amount to Rs 78,000, bringing the total charges to Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Nanganallur Co-operative Housing Society Colony 3rd Street?

The Nanganallur Co-operative Housing Society Colony 3rd 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. To find more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam, as it determines the minimum value at which a property can be registered. This value is used by the registration authorities to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the registration process reflects a fair value for the property being transferred.

Frequently asked questions

What is the current guideline value for Nanganallur Co-operative Housing Society Colony 3rd Street?

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

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly. It increased from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Nanganallur Co-operative Housing Society Colony 3rd Street?

The land classification for Nanganallur Co-operative Housing Society Colony 3rd Street is Residential Class I Type - III.

Where can I find the registration office for this area?

The registration office for Nanganallur Co-operative Housing Society Colony 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%. This is calculated based on the higher of the guideline value or the sale price of the property.