Guideline Value for Nanganallur Co-operative Housing Society Colony 5th Street

Nanganallur Co-operative Housing Society Colony 5th Street guideline value

The current guideline value for Nanganallur Co-operative Housing Society Colony 5th 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 5th Street has changed

The guideline value for Nanganallur Co-operative Housing Society Colony 5th Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,250 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking a change of +180%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of -33%. The latest revision before 2024 was in 2023, where the value rose to Rs 3,500 per sq.ft, followed by the current figure of Rs 3,900 per sq.ft in 2024, reflecting an increase of +11%.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by +212%, demonstrating a significant upward trend in the valuation over the years.

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 for these streets is Rs 3,900 per sq.ft, which is the same as the current guideline value for Nanganallur Co-operative Housing Society Colony 5th Street.

• Nanganallur Co-operative Housing Society Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 6th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 7th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 8th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 9th Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nanganallur Co-operative Housing Society Colony 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to 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 the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanganallur Co-operative Housing Society Colony 5th Street?

The Sub Registrar Office that covers Nanganallur Co-operative Housing Society Colony 5th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, Chennai registration zone.

You can find your SRO for more details.

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 calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be considered for duty calculations.

Frequently asked questions

What is the current guideline value for Nanganallur Co-operative Housing Society Colony 5th Street?

The current guideline value for Nanganallur Co-operative Housing Society Colony 5th 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 increased from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of +212% over the years.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Nanganallur Co-operative Housing Society Colony 4th, 6th, 7th, 8th, and 9th Streets, as well as the 3rd Street.

What is the registration office for this area?

The registration office for Nanganallur Co-operative Housing Society Colony 5th Street 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, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.