Guideline Value for N.G.O. Colony

N.G.O. Colony guideline value

The current guideline value of N.G.O. Colony, located in Hastinapuram village under the Pallavaram SRO, is Rs 2,970 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

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

The guideline value for N.G.O. Colony has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 525 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a substantial rise of 414%. However, the value saw a decrease to Rs 1,809 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 2,700 per sq.ft, which was then increased to Rs 2,970 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 466%. It is important to note that there are no recorded figures for N.G.O. Colony in the years 2002 and 2003.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is equal to the guideline value of N.G.O. Colony.

• New Street Nagar: Rs 2,970 per sq.ft (2024)
• North Mosque Street: Rs 1,650 per sq.ft (2024)
• N.S.R.Road: Rs 2,970 per sq.ft (2024)
• Nethaji Nagar 3rd Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 2nd Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 1st Cross Street: Rs 2,380 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total fees to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

The N.G.O. Colony is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it may impact the overall transaction costs. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect their financial planning.

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 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, increasing from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 466%.

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

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office is responsible for N.G.O. Colony?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, is responsible for N.G.O. Colony.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, affecting the stamp duty and registration fees that buyers must pay during a transaction.