Guideline Value for N.G.O.Colony

N.G.O.Colony guideline value

The current guideline value of N.G.O.Colony, located in Perungalathur village under the Padappai SRO, is Rs 3,960 per sq.ft. This value is effective from 1 July 2024 and falls under the Commercial 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 seen significant changes over the years. In 2007, the value was Rs 460 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012, marking a 291% rise. The value further rose to Rs 2,412 per sq.ft in 2017, a 34% increase from the previous revision. The 2023 revision set the value at Rs 3,600 per sq.ft, reflecting a 49% increase from 2017. The current 2024 revision shows a guideline value of Rs 3,960 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 761%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of N.G.O.Colony is above this median, indicating a higher valuation compared to many other streets in the area.

• N.T.R.Garden: Rs 1,980 per sq.ft (2024)
• Neuton Street: Rs 1,980 per sq.ft (2024)
• Nethaji Street: Rs 2,640 per sq.ft (2024)
• Nethaji Nagar: Rs 2,310 per sq.ft (2024)
• O.V. Alagesan Street: Rs 1,980 per sq.ft (2024)
• Nehru Street: Rs 2,970 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 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total charges to Rs 3,56,400. It is important to note that 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 information.

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 additional details.

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

The guideline value is a crucial factor in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

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 3,960 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 460 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 761% over the years.

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

N.G.O.Colony is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The rates are typically 7% for stamp duty and 2% for registration fees.