Guideline Value for Nolambur Main Road

Nolambur Main Road guideline value

The current guideline value of Nolambur Main Road is Rs 7,100 per sq.ft, effective from 1 July 2024. This road is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Nolambur Main Road has changed

The guideline value for Nolambur Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 366 per sq.ft, which increased to Rs 402 per sq.ft in 2003. Following this, the value saw significant growth, reaching Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 6,500 per sq.ft in 2012. However, there was a decline to Rs 4,355 per sq.ft in 2017. The value then rose to Rs 6,500 per sq.ft in 2023, and as of 2024, it stands at Rs 7,100 per sq.ft.

Between the revisions, the changes were notable. From 2002 to 2024, the overall increase is +1840%. The jump from 2017 to 2023 was +49%, while the increase from 2023 to 2024 was +9%. The largest increase occurred from 2007 to 2012 at +442%, and from 2003 to 2007 at +199%. The register has no figure for the years not mentioned in this summary.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is the same as the guideline value for Nolambur Main Road.

• New Mariamman Koil Street: Rs 3,300 per sq.ft (2024)
• Officer Colony: Rs 7,100 per sq.ft (2024)
• New Kuberaganapathi Street: Rs 3,300 per sq.ft (2024)
• Olimbic Colony: Rs 7,100 per sq.ft (2024)
• Oori Salai(Mugappair East Block 10): Rs 7,100 per sq.ft (2024)
• Pakkiathammal Nagar: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nolambur Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nolambur Main Road?

The Sub Registrar Office that covers Nolambur Main Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Mugappair. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid. It serves as a benchmark for the valuation of the property, ensuring that the transaction is registered at a value recognized by the authorities.

During the registration process, the guideline value helps in calculating the applicable taxes, which are necessary for the legal transfer of property ownership. Buyers and sellers should be aware of this value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Nolambur Main Road?

The current guideline value of Nolambur Main Road is Rs 7,100 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 366 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +1840% over this period.

What is the median guideline value in Mugappair?

The median guideline value for streets in Mugappair is Rs 7,100 per sq.ft, which is the same as the guideline value for Nolambur Main Road.

What is the stamp duty rate for properties in Nolambur Main Road?

The stamp duty rate for properties in Nolambur Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nolambur Main Road?

The Sub Registrar Office for Nolambur Main Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.