Guideline Value for N.G.O.Colony 2nd Street

N.G.O.Colony 2nd Street guideline value

The current guideline value of N.G.O.Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of N.G.O.Colony 2nd Street has changed

The guideline value for N.G.O.Colony 2nd Street has seen several revisions over the years. In 2002, the value was Rs 352 per sq.ft, which increased to Rs 385 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 850 per sq.ft in 2007, reflecting a 121% increase. The subsequent revision in 2012 brought the value down to Rs 4,000 per sq.ft, a decrease of 371% from the previous figure. In 2017, the guideline value rose to Rs 2,680 per sq.ft, showing a 49% increase. The most recent revisions include Rs 4,000 per sq.ft in 2023, followed by the current value of Rs 4,400 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1150%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO carrying a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the 2024 figure for N.G.O.Colony 2nd Street.

• N.G.O.Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• N.G.O.Colony 1st Street: Rs 4,400 per sq.ft (2024)
• North Mada Street: Rs 3,850 per sq.ft (2024)
• N.S.K. Street: Rs 9,900 per sq.ft (2024)
• Nehru Nagar Sastri Street: Rs 4,400 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in N.G.O.Colony 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers N.G.O.Colony 2nd Street?

The N.G.O.Colony 2nd Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Saligramam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal and taxation purposes. It is advisable for buyers and sellers to be familiar with the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of N.G.O.Colony 2nd Street?

The current guideline value of N.G.O.Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1150% over this period.

What is the land classification for N.G.O.Colony 2nd Street?

N.G.O.Colony 2nd Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for N.G.O.Colony 2nd Street?

The Sub Registrar Office covering N.G.O.Colony 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 3,96,000.