Guideline Value for N.G.G.O Colony

N.G.G.O Colony guideline value

The current guideline value of N.G.G.O Colony in Thiruvallur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of N.G.G.O Colony has changed

The guideline value for N.G.G.O Colony has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value adjusted downwards to Rs 670 per sq.ft, a decrease of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current value of N.G.G.O Colony.

• New N.G.G.O Colony: Rs 1,100 per sq.ft (2024)
• North raja Street: Rs 1,650 per sq.ft (2024)
• Nethaji Salai: Rs 2,750 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Pakthavatchalam Street: Rs 1,650 per sq.ft (2024)
• Pallavan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in N.G.G.O Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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.G.O Colony?

The N.G.G.O Colony is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process of property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded at a fair value as per the government's regulations.

Frequently asked questions

What is the current guideline value of N.G.G.O Colony?

The current guideline value of N.G.G.O Colony is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of N.G.G.O Colony?

N.G.G.O Colony is classified as Residential Class I Type - III, which indicates its suitability for residential development.

Where can I find the registration office for N.G.G.O Colony?

The registration office for N.G.G.O Colony is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is stamp duty calculated in N.G.G.O Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.