Guideline Value for N.G.O. COLONY MAIN ROAD (VADAPALANI)

N.G.O. Colony Main Road (Vadapalani) guideline value

The current guideline value of N.G.O. Colony Main Road (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 Main Road (Vadapalani) has changed

The guideline value for N.G.O. Colony Main Road has seen several revisions over the years. In 2007, the value was Rs 1,050 per sq.ft, which increased significantly to Rs 4,600 per sq.ft in 2012. However, it dropped to Rs 3,082 per sq.ft in 2017. The 2023 revision set the value at Rs 4,600 per sq.ft, and the current value is Rs 5,000 per sq.ft from the 2024 revision, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 376%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

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 value for these streets is Rs 5,800 per sq.ft, indicating that N.G.O. Colony Main Road's 2024 figure is below that median.

• N.G.O. Colony 4th Cross Street (Choolaimedu): 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 3rd Cross Street (Choolaimedu): 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 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)

Stamp duty and registration fee for property in N.G.O. Colony Main Road (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 be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees 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 Main Road (Vadapalani)?

The N.G.O. Colony Main Road (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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal and financial implications of the transaction. It is essential for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of N.G.O. Colony Main Road (Vadapalani)?

The current guideline value of N.G.O. Colony Main Road (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 significantly 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 this period.

What is the stamp duty rate for properties in N.G.O. Colony Main Road (Vadapalani)?

The stamp duty rate for properties in N.G.O. Colony Main Road is 7%, which is calculated based on the higher of the guideline value or the sale price.

Which office handles registrations for N.G.O. Colony Main Road (Vadapalani)?

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

What is the land classification for N.G.O. Colony Main Road (Vadapalani)?

N.G.O. Colony Main Road (Vadapalani) is classified as Residential Class III Type - I, indicating its designation for residential use.