Guideline Value for N.G.O. COLONY 2 ND STREET (VADAPALANI)

N.G.O. Colony 2 Nd Street (Vadapalani) guideline value

The current guideline value for N.G.O. Colony 2 Nd 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 is classified as Residential Class III Type - I.

How the guideline value of N.G.O. Colony 2 Nd Street (Vadapalani) has changed

The guideline value for N.G.O. Colony 2 Nd Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,050 per sq.ft. This value increased significantly to Rs 4,600 per sq.ft in 2012, marking a change of +338%. However, in 2017, the value decreased to Rs 3,082 per sq.ft, reflecting a drop of -33%. The most recent revision in 2024 sees the guideline value rise to Rs 5,000 per sq.ft, which is an increase of +62% from the 2017 figure.

It is important to note that 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 have a guideline value for 2024, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, making the current figure for N.G.O. Colony 2 Nd Street below the median.

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

Stamp duty and registration fee for property in N.G.O. Colony 2 Nd 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 fees 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers N.G.O. Colony 2 Nd Street (Vadapalani)?

The N.G.O. Colony 2 Nd Street (Vadapalani) falls under the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the transaction must be registered at or above this guideline value to ensure compliance with local regulations.

Additionally, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential costs associated with property transactions. Buyers should be aware of these values to budget accordingly for their purchases.

Frequently asked questions

What is the current guideline value of N.G.O. Colony 2 Nd Street (Vadapalani)?

The current guideline value for N.G.O. Colony 2 Nd 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 is the land classification for N.G.O. Colony 2 Nd Street?

N.G.O. Colony 2 Nd Street is classified as Residential Class III Type - I.

Which Sub Registrar Office is responsible for N.G.O. Colony 2 Nd Street?

The Kodambakkam Sub Registrar Office is responsible for N.G.O. Colony 2 Nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in N.G.O. Colony 2 Nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 50,00,000, the stamp duty at 7% would be Rs 3,50,000.