Guideline Value for Nobel Street

Nobel Street guideline value

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

How the guideline value of Nobel Street has changed

The guideline value for Nobel 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. However, this figure then dropped to Rs 2,680 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 4,000 per sq.ft, followed by a further rise to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

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

Guideline values in Palavanthangal

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

• Nobel 4th Street: Rs 4,400 per sq.ft (2024)
• Nobel Street 1st 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

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, bringing the total cost to Rs 3,96,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nobel Street?

The Sub Registrar Office that covers Nobel 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 is a crucial factor when buying or selling property in Palavanthangal, as it determines the amount of stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements and accurately calculate their costs.

When registering a property, the guideline value is used to assess the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Nobel Street?

The current guideline value of Nobel 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 increased 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 this period.

What are the stamp duty and registration fees for a property on Nobel Street?

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 Sub Registrar Office covers Nobel Street?

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

What is the land classification for Nobel Street?

Nobel Street is classified as Residential Class I Type - II, indicating its intended use for residential purposes.