Guideline Value for N.G.G.O. Nagar

N.G.G.O. Nagar guideline value

The current guideline value of N.G.G.O. Nagar is Rs 803 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class IV Type - I.

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

The guideline value for N.G.G.O. Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which increased to Rs 268 per sq.ft in 2017. In the subsequent revisions, the value rose significantly, reaching Rs 803 per sq.ft in both 2023 and 2024, reflecting a 200% increase from 2017 to 2023. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but the overall increase from 2012 to 2024 is 101%. The guideline value remained unchanged from 2023 to 2024, indicating stability in the recent revision period.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing N.G.G.O. Nagar's 2024 value below this median.

• North Mada Street: Rs 880 per sq.ft (2024)
• New Mettu Street: Rs 805 per sq.ft (2024)
• N.S.Mary Kallarai Street: Rs 880 per sq.ft (2024)
• Nethaji Street: Rs 880 per sq.ft (2024)
• Nehruji Street: Rs 880 per sq.ft (2024)
• Palani Street: Rs 880 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 803 per sq.ft, the guideline value amounts to Rs 8,03,000. The stamp duty at 7% would be Rs 56,210, and the registration fee at 2% would be Rs 16,060, totaling Rs 72,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers N.G.G.O. Nagar?

The Sub Registrar Office that covers N.G.G.O. Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kovilpathagai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value helps ensure transparency and standardization in property transactions. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

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

The current guideline value of N.G.G.O. Nagar is Rs 803 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 803 per sq.ft in 2024, reflecting an overall increase of 101% over this period.

What is the land classification for N.G.G.O. Nagar?

N.G.G.O. Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 8,03,000 would incur a stamp duty of Rs 56,210.