Guideline Value for N.G.O.COLONY

N.G.O.Colony guideline value

The current guideline value of N.G.O.Colony, located in Vadaagaram village under the Kodambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

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

The guideline value for N.G.O.Colony has seen significant changes over the years. In 2002, the value was Rs 921 per sq.ft, which increased to Rs 1,019 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,350 per sq.ft in 2007, a 32% increase from the previous year. By 2012, the value had jumped to Rs 5,000 per sq.ft, reflecting a substantial increase of 270% from 2007. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value then increased again to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 497%. It is important to note that the register has no figure for N.G.O.Colony for the years not mentioned in the revisions.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for N.G.O.Colony is below this median.

• New Kodambakkam High Road: Rs 12,000 per sq.ft (2024)
• Officers Colony 1st Cross Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 1st Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 2nd Cross Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 2nd Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 3rd Cross Street: Rs 7,000 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and 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 Sub Registrar Office that covers N.G.O.Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vadaagaram. It determines the minimum value at which a property can be registered. Buyers and sellers must consider this value as it directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 5,500 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 921 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 497% over this period.

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

N.G.O.Colony is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the relevant Sub Registrar Office?

The relevant Sub Registrar Office for N.G.O.Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How do stamp duty and registration fees work in N.G.O.Colony?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 4,95,000 in fees.