Guideline Value for N.G.O. COLONY 1 ST STREET (VADAPALANI)

N.G.O. Colony 1 St Street (Vadapalani) guideline value

The current guideline value of N.G.O. Colony 1 St Street (Vadapalani) is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO and falls under Residential Class III Type - I land classification.

How the guideline value of N.G.O. Colony 1 St Street (Vadapalani) has changed

The guideline value for N.G.O. Colony 1 St Street (Vadapalani) has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 1,050 per sq.ft. This figure increased significantly to Rs 4,600 per sq.ft in 2012, marking a rise of 338%. However, the value decreased to Rs 3,082 per sq.ft in 2017, which was a decline of 33%. The most recent revision in 2024 has set the guideline value at Rs 5,000 per sq.ft, reflecting an increase of 62% from the 2017 figure.

There are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 376%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, indicating that the 2024 guideline value for N.G.O. Colony 1 St Street (Vadapalani) is below this median.

• N.G.O. Colony 2nd Cross Street (Choolaimedu): Rs 4,400 per sq.ft (2024)
• N.G.O. Colony 1st Main Road(Choolaimedu): Rs 5,300 per sq.ft (2024)
• N.G.O. Colony 2nd Main Road (Choolaimedu): Rs 5,300 per sq.ft (2024)
• N.G.O. Colony 1st Cross Street: Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 2 Nd Street (Vadapalani): Rs 5,000 per sq.ft (2024)
• N.G.O. Colony 3rd Cross Street (Choolaimedu): Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in N.G.O. Colony 1 St Street (Vadapalani)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers N.G.O. Colony 1 St Street (Vadapalani)?

The N.G.O. Colony 1 St Street (Vadapalani) is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in establishing the legal value of the property, which is necessary for the registration process. It ensures transparency and compliance with local regulations, thereby protecting the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of N.G.O. Colony 1 St Street (Vadapalani)?

The current guideline value of N.G.O. Colony 1 St Street (Vadapalani) is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,050 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 376% over the years.

What are the stamp duty and registration fees for property in N.G.O. Colony 1 St Street (Vadapalani)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,50,000.

Which office handles property registrations in N.G.O. Colony 1 St Street (Vadapalani)?

The Kodambakkam Sub Registrar Office handles property registrations for N.G.O. Colony 1 St Street (Vadapalani), located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for N.G.O. Colony 1 St Street (Vadapalani)?

N.G.O. Colony 1 St Street (Vadapalani) is classified as Residential Class III Type - I, indicating its suitability for residential purposes.