Guideline Value for N.G.O. Colony 5th Cross Street

N.G.O. Colony 5th Cross Street guideline value

The current guideline value of N.G.O. Colony 5th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of N.G.O. Colony 5th Cross Street has changed

The guideline value for N.G.O. Colony 5th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 133% rise. However, the value decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,850 per sq.ft, reflecting an increase of 64% 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 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which means that N.G.O. Colony 5th Cross Street's 2024 figure is below that median.

• N.G.O. Colony 4th Cross Street: Rs 3,850 per sq.ft (2024)
• N.G.O. Colony 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• N.G.O. Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• N.G.O. Colony 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• N.G.O. Colony 1st Main Road: Rs 4,400 per sq.ft (2024)
• N.G.O.Colony 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in N.G.O. Colony 5th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. 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 5th Cross Street?

The N.G.O. Colony 5th Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and can vary significantly between different areas.

When a property is sold, the registration office will use the guideline value to calculate the applicable duties and fees, ensuring that the transaction is recorded accurately. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value for N.G.O. Colony 5th Cross Street?

The current guideline value for N.G.O. Colony 5th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 157% over the years.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers N.G.O. Colony 5th Cross Street?

The Velacheri Sub Registrar Office covers N.G.O. Colony 5th Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for N.G.O. Colony 5th Cross Street?

The land classification for N.G.O. Colony 5th Cross Street is Residential Class II Type - III.