Guideline Value for N.G.O. COLONY 1ST CROSS STREET

N.G.O. Colony 1st Cross Street guideline value

The current guideline value of N.G.O. Colony 1st Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of N.G.O. Colony 1st Cross Street has changed

The guideline value for N.G.O. Colony 1st Cross Street has seen several revisions over the years. Starting from Rs 943 per sq.ft in 2002, it increased to Rs 1,036 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, which was a 16% increase from the previous revision. By 2012, the value surged to Rs 4,600 per sq.ft, showing a remarkable increase of 283%.

However, the value dropped to Rs 3,082 per sq.ft in 2017, reflecting a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft, which is a 62% increase from the 2017 figure. It is important to note that the register has no figure for this street in 2023.

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, with a median value of Rs 5,800 per sq.ft. The guideline value for N.G.O. Colony 1st Cross Street is below this median.

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

Stamp duty and registration fee for property in N.G.O. Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty, charged at 7%, would be 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 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.O. Colony 1st Cross Street?

The N.G.O. Colony 1st Cross Street 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 further assistance.

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

The guideline value is an important factor in the registration of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is compliant with local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. This ensures transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of N.G.O. Colony 1st Cross Street?

The current guideline value of N.G.O. Colony 1st Cross Street 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 943 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 430% over the years.

What is the land classification of N.G.O. Colony 1st Cross Street?

N.G.O. Colony 1st Cross Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I calculate my stamp duty and registration fees?

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office do I need to visit for property registration in N.G.O. Colony 1st Cross Street?

The Kodambakkam Sub Registrar Office is responsible for property registrations in N.G.O. Colony 1st Cross Street. It is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.