Guideline Value for Nobel 3rd Street

Nobel 3rd Street guideline value

The current guideline value of Nobel 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village, under the jurisdiction of the Alandur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nobel 3rd Street has changed

Over the years, the guideline value for Nobel 3rd Street has seen significant changes. The earliest recorded figure is from 2007, where it was Rs 1,400 per sq.ft. This value increased substantially to Rs 4,000 per sq.ft in 2012, marking a rise of 186%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and now stands at Rs 4,400 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

There are no recorded figures for Nobel 3rd Street in the years 2002 and 2003. The overall change from the 2007 figure to the current 2024 figure represents an increase of 214%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, placing Nobel 3rd Street's 2024 figure above this median.

• Nobel 2nd Street: Rs 5,500 per sq.ft (2024)
• Nobel 4th Street: Rs 4,400 per sq.ft (2024)
• Nobel Street: Rs 4,400 per sq.ft (2024)
• Nobel Street 1st Street: Rs 4,400 per sq.ft (2024)
• New colony 3rd lane: Rs 2,800 per sq.ft (2024)
• New Colony 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nobel 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Nobel 3rd Street?

The Sub Registrar Office that covers Nobel 3rd Street is 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 Palavanthangal

The guideline value plays a crucial role in property transactions in Palavanthangal. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. The higher the guideline value, the higher the fees will be, making it a significant factor in real estate dealings.

Frequently asked questions

What is the current guideline value of Nobel 3rd Street?

The current guideline value of Nobel 3rd Street is Rs 4,400 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 1,400 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What is the stamp duty on property in Nobel 3rd Street?

The stamp duty on property in Nobel 3rd Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Nobel 3rd Street located?

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

What are the guideline values of other streets in Palavanthangal?

Other streets in Palavanthangal have varying guideline values, with Nobel 2nd Street at Rs 5,500 per sq.ft, Nobel 4th Street at Rs 4,400 per sq.ft, and others ranging from Rs 2,800 to Rs 5,500 per sq.ft.