Guideline Value for Nobel Street 1st Street

Nobel Street 1st Street guideline value

The current guideline value of Nobel Street 1st 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 Street 1st Street has changed

The guideline value for Nobel Street 1st Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, an increase from Rs 4,000 per sq.ft in 2023, marking a change of +10%. Looking back further, the value was Rs 2,680 per sq.ft in 2017, which reflects a significant increase of +49% over the six years leading to 2023. The value was Rs 4,000 per sq.ft in 2012, which was a decrease of -33% from the 2017 figure. In 2007, the value was Rs 1,400 per sq.ft, showing a remarkable increase of +186% by 2012.

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

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 Street 1st Street is above this median.

• Nobel Street: Rs 4,400 per sq.ft (2024)
• Nobel 4th Street: Rs 4,400 per sq.ft (2024)
• Nobel 3rd Street: Rs 4,400 per sq.ft (2024)
• Nobel 2nd Street: Rs 5,500 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 Street 1st 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, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nobel Street 1st Street?

The Sub Registrar Office that covers Nobel Street 1st 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Palavanthangal. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for any property sale or purchase.

When a buyer or seller engages in a property transaction, the guideline value is referenced to ensure that the appropriate taxes are calculated accurately. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nobel Street 1st Street?

The current guideline value of Nobel Street 1st 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 seen several revisions, increasing from Rs 1,400 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of +214%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Nobel Street 1st Street?

The Alandur Sub Registrar Office is responsible for property registrations in Nobel Street 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in property values in the area.