Guideline Value for Nanganallur Co-operative Housing Society Colony37thStreet

Nanganallur Co-operative Housing Society Colony37thStreet guideline value

The current guideline value for Nanganallur Co-operative Housing Society Colony37thStreet is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Nanganallur Co-operative Housing Society Colony37thStreet has changed

The guideline value for Nanganallur Co-operative Housing Society Colony37thStreet has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,250 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a 180% rise. However, the value then decreased to Rs 2,345 per sq.ft in 2017, which was a 33% drop. The 2023 revision saw a substantial increase to Rs 3,500 per sq.ft, and the latest revision in 2024 brought it to Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 212%. It is important to note that there are no figures available for the revisions in 2002 and 2003 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. The median guideline value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Nanganallur Co-operative Housing Society Colony37thStreet. Below are other streets in Adambakkam:

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

Stamp duty and registration fee for property in Nanganallur Co-operative Housing Society Colony37thStreet

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 amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together 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.

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

Which Sub Registrar Office covers Nanganallur Co-operative Housing Society Colony37thStreet?

The Nanganallur Co-operative Housing Society Colony37thStreet 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 details.

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 to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the buyer will still have to pay the stamp duty based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nanganallur Co-operative Housing Society Colony37thStreet?

The current guideline value for Nanganallur Co-operative Housing Society Colony37thStreet 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 significantly 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 this period.

What are the other streets in Adambakkam with similar guideline values?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Nanganallur Co-operative Housing Society Colony 37th Street Extn, 2nd Street, 3rd Street, and 1st Street.

What is the registration office for Nanganallur Co-operative Housing Society Colony37thStreet?

The registration office for Nanganallur Co-operative Housing Society Colony37thStreet is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Nanganallur Co-operative Housing Society Colony37thStreet?

Stamp duty for properties in Nanganallur Co-operative Housing Society Colony37thStreet is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at a rate of 7%.