Guideline Value

Corporate

Guideline Value for N.G.O. Colony

₹550/sq.ft.

The guideline value for N.g.o. Colony in Sholavaram village (Redhills SRO, Chennai zone) is Rs 550 per sq.ft, effective 1 July 2024. It was Rs 500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholavaram

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹550 /sq.ft.
From 1-4-2023 ₹500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹335 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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N.G.O. Colony guideline value

The current guideline value for N.G.O. Colony in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Redhills Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

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

The guideline value for N.G.O. Colony has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The 2023 revision set the value at Rs 500 per sq.ft, and the most recent revision in 2024 raised it to Rs 550 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2007 to 2024, the guideline value has increased by 175%. Notably, the change from 2023 to 2024 was an increase of 10%, while the jump from 2017 to 2023 was a significant rise of 49%. The value fluctuated from 2012 to 2017 with a decrease of 33%, and from 2007 to 2012, it saw a substantial increase of 150%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing N.G.O. Colony's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties must be registered. When buying or selling property in Sholavaram, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Understanding this value helps in making informed decisions during the property buying or selling 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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, showing an overall increase of 175% over the years.

What are the other streets in Sholavaram with their guideline values?

Other streets in Sholavaram include New Sun Garden at Rs 550 per sq.ft, New Sun City Phase - IV at Rs 770 per sq.ft, and New Sun City Elite at Rs 1,650 per sq.ft, among others.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in N.G.O. Colony?

Stamp duty in N.G.O. Colony is calculated based on the guideline value or the sale price, whichever is higher. For instance, a plot valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500 at a rate of 7%.