Guideline Value for N G O Colony 2nd Street

N G O Colony 2nd Street guideline value

The current guideline value of N G O Colony 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of N G O Colony 2nd Street has changed

The guideline value for N G O Colony 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 2,345 per sq.ft in 2017, which is a 33% decline. The value rose again to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, reflecting an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 457%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of N G O Colony 2nd Street.

• N G O Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 1st Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 4th Street: Rs 3,900 per sq.ft (2024)
• New Vinayagar Street: Rs 4,400 per sq.ft (2024)
• North Street Lakshmi Nagar 4th Stage: Rs 4,400 per sq.ft (2024)
• N S Naidu Layout: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in N G O Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. The duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers N G O Colony 2nd Street?

The Sub Registrar Office that covers N G O Colony 2nd 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 Thalakanancherry

The guideline value plays a crucial role in the registration process when buying or selling property in Thalakanancherry. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value or the sale price, whichever is higher, is considered for calculating these fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of N G O Colony 2nd Street?

The current guideline value of N G O Colony 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 457% over the years.

What is the land classification for N G O Colony 2nd Street?

N G O Colony 2nd Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for N G O Colony 2nd Street?

The Sub Registrar Office for N G O Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000.