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

N.G.O. Colony 2nd Cross Street (Choolaimedu) guideline value

The current guideline value for N.G.O. Colony 2nd Cross Street (Choolaimedu) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of N.G.O. Colony 2nd Cross Street (Choolaimedu) has changed

The guideline value for N.G.O. Colony 2nd Cross Street (Choolaimedu) has seen several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this value decreased to Rs 2,680 per sq.ft in the 2017 revision. The 2023 revision then raised it to Rs 4,000 per sq.ft, followed by the current 2024 revision at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Puliyur

In Puliyur village, 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 in this area is Rs 5,800 per sq.ft, indicating that N.G.O. Colony 2nd Cross Street's current figure is below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, resulting in a total of Rs 3,96,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers N.G.O. Colony 2nd Cross Street (Choolaimedu)?

The N.G.O. Colony 2nd Cross Street (Choolaimedu) 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 the registration process when buying or selling property in Puliyur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that all transactions are fairly assessed based on the established guideline values.

Frequently asked questions

What is the current guideline value of N.G.O. Colony 2nd Cross Street (Choolaimedu)?

The current guideline value for N.G.O. Colony 2nd Cross Street (Choolaimedu) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office handles registrations for this street?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covers N.G.O. Colony 2nd Cross Street (Choolaimedu).

What is the land classification for N.G.O. Colony 2nd Cross Street (Choolaimedu)?

N.G.O. Colony 2nd Cross Street (Choolaimedu) is classified as Residential Class IV Type - II.