Guideline Value for N.G.O. COLONY 3RD CROSS STREET (CHOOLAIMEDU)

N.G.O. Colony 3rd Cross Street (Choolaimedu) guideline value

The current guideline value of N.G.O. Colony 3rd Cross Street (Choolaimedu) 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 3rd Cross Street (Choolaimedu) has changed

The guideline value for N.G.O. Colony 3rd Cross Street (Choolaimedu) has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,200 per sq.ft. This increased significantly to Rs 4,600 per sq.ft in 2012, marking a rise of 283%. However, from 2012 to 2017, the value decreased to Rs 3,082 per sq.ft, a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 5,000 per sq.ft, reflecting a rise of 62% from the 2017 figure.

It is important to note that there are no recorded guideline values for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 317%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with 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, placing N.G.O. Colony 3rd Cross Street (Choolaimedu) below that median.

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

Stamp duty and registration fee for property in N.G.O. Colony 3rd Cross Street (Choolaimedu)

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, making the total fees 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.

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

Which Sub Registrar Office covers N.G.O. Colony 3rd Cross Street (Choolaimedu)?

The N.G.O. Colony 3rd Cross Street (Choolaimedu) falls under the jurisdiction of 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 is a crucial factor in property transactions in Puliyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will be based on the guideline value or the sale price, whichever is higher.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of N.G.O. Colony 3rd Cross Street (Choolaimedu)?

The current guideline value of N.G.O. Colony 3rd Cross Street (Choolaimedu) 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 significantly from Rs 1,200 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 317% over the years.

What is the land classification for N.G.O. Colony 3rd Cross Street (Choolaimedu)?

N.G.O. Colony 3rd Cross Street (Choolaimedu) is classified as Residential Class III Type - I.

Where can I find the registration office for this area?

The registration office for N.G.O. Colony 3rd Cross Street (Choolaimedu) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in this area?

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