Guideline Value for N.G.O. Colony

N.G.O. Colony guideline value

The current guideline value of N.G.O. Colony, located in Padappai village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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. Starting from the 2003 revision, the value was Rs 35 per sq.ft. In 2007, it saw a significant increase to Rs 85 per sq.ft, followed by a remarkable rise to Rs 1,200 per sq.ft in 2012. However, in 2017, the value dropped to Rs 804 per sq.ft. The 2023 revision brought it back up to Rs 1,200 per sq.ft, and the latest revision in 2024 set the value at Rs 1,320 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, it rose by 49%. The drop from 2012 to 2017 was 33%, while the increase from 2007 to 2012 was a staggering 1312%. Between 2003 and 2007, the increase was 143%. Overall, from 2003 to 2024, the guideline value has increased by 3671%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing N.G.O. Colony's 2024 figure above that median.

• N.S.K.Street: Rs 830 per sq.ft (2024)
• Officers Colony: Rs 830 per sq.ft (2024)
• Nethaji Nagar: Rs 3,300 per sq.ft (2024)
• Om Shakthi Nagar: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar Phase II: Rs 830 per sq.ft (2024)
• Ottirai Vadai Street: Rs 830 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost for these fees would be Rs 1,18,800. It is important to note that 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 is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Padappai, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to understand the associated costs.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction. It is important to keep the guideline value in mind to avoid any discrepancies during the registration process.

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 1,320 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 35 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 3671% over this period.

What are the stamp duty rates in N.G.O. Colony?

The stamp duty in N.G.O. Colony is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for N.G.O. Colony located?

The Padappai Sub Registrar Office, which covers N.G.O. Colony, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property using the stamp duty and registration fee calculator available online.