Guideline Value for Nobel 4th Street

Nobel 4th Street guideline value

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

How the guideline value of Nobel 4th Street has changed

The guideline value for Nobel 4th Street has seen several revisions over the years. In 2007, the value was Rs 1,400 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 186% rise. 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 in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 214%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Nobel 4th Street is above this median.

• Nobel 3rd Street: Rs 4,400 per sq.ft (2024)
• Nobel Street: Rs 4,400 per sq.ft (2024)
• Nobel 2nd Street: Rs 5,500 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to 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 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 detailed calculations.

Which Sub Registrar Office covers Nobel 4th Street?

The Sub Registrar Office that covers Nobel 4th 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavanthangal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that all transactions are fairly assessed based on the established value of the property.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees, which are mandatory for registration. This ensures that the process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Nobel 4th Street?

The current guideline value of Nobel 4th 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 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 for property on Nobel 4th Street?

The stamp duty for property on Nobel 4th Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How many streets in Palavanthangal have a guideline value?

There are 95 streets in Palavanthangal under the Alandur SRO that carry a 2024 guideline value.