Guideline Value for N.G.O. COLONY

N.G.O. Colony guideline value

The current guideline value of N.G.O. Colony in Kumili village is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Thiruporur SRO and is classified as Residential Class I Type - I.

How the guideline value of N.G.O. Colony has changed

Over the years, the guideline value of N.G.O. Colony has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision marked a decrease to Rs 167 per sq.ft, but the value returned to Rs 250 per sq.ft in both the 2012 and 2023 revisions. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft. Overall, from the 2012 revision to the current 2024 revision, the guideline value has remained unchanged at Rs 250 per sq.ft.

Guideline values in Kumili

Kumili village has 21 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for N.G.O. Colony is below this median.

• N.G.O. Colony Extension: Rs 250 per sq.ft (2024)
• Rithivik Township Phase I, II, III, IV: Rs 1,493 per sq.ft (2024)
• Koushik Garden: Rs 1,800 per sq.ft (2024)
• Saastha Nagar: Rs 250 per sq.ft (2024)
• Kirthik Garden: Rs 400 per sq.ft (2024)
• Kirithik Garden Part -II: Rs 1,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot in N.G.O. Colony at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers N.G.O. Colony?

The N.G.O. Colony falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kumili. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of N.G.O. Colony?

The current guideline value of N.G.O. Colony is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since the 2012 revision, with a previous decrease to Rs 167 per sq.ft in 2017. The value returned to Rs 250 per sq.ft in 2023, with no change noted from 2023 to 2024.

What are the stamp duty and registration fees for property in N.G.O. Colony?

For a plot of 1,000 sq.ft at the guideline value of Rs 250 per sq.ft, the total guideline value is Rs 2,50,000. The stamp duty would be Rs 17,500 and the registration fee Rs 5,000, totaling Rs 22,500.

Which office handles registrations for N.G.O. Colony?

The Thiruporur Sub Registrar Office is responsible for handling registrations in N.G.O. Colony, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

What is the land classification for N.G.O. Colony?

N.G.O. Colony is classified as Residential Class I Type - I, indicating its intended use for residential purposes.