Guideline Value for N G O Colony 3rd Street

N G O Colony 3rd Street guideline value

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

How the guideline value of N G O Colony 3rd Street has changed

The guideline value for N G O Colony 3rd Street has experienced several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 457%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Thalakanancherry

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

• N G O Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 4th Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to 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, making the total Rs 3,51,000. It is important to note that the 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 N G O Colony 3rd Street?

The N G O Colony 3rd Street is covered by 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 is a crucial factor in property transactions in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to understand that the guideline value can influence the overall cost involved in the transaction. Therefore, both buyers and sellers should consider the current guideline value when negotiating property deals.

Frequently asked questions

What is the current guideline value of N G O Colony 3rd Street?

The current guideline value of N G O Colony 3rd 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 several times, starting from Rs 700 per sq.ft in 2007, rising to Rs 3,500 in 2012, dropping to Rs 2,345 in 2017, and increasing to Rs 3,500 in 2023, before reaching Rs 3,900 in 2024.

What is the land classification for N G O Colony 3rd Street?

N G O Colony 3rd Street is classified as Residential Class I Type - III.

Where can I find the registration office for N G O Colony 3rd Street?

The registration office for N G O Colony 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.