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Guideline Value

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Guideline Value for N.N.G.O. Colony 1st Cross Street

₹3850/sq.ft.

The guideline value for N.n.g.o. Colony 1st Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹581 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹237 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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]
Records for a plot on N.n.g.o. Colony 1st Cross Street

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N.N.G.O. Colony 1st Cross Street guideline value

The current guideline value of N.N.G.O. Colony 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of N.N.G.O. Colony 1st Cross Street has changed

The guideline value for N.N.G.O. Colony 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 237 per sq.ft, which increased to Rs 581 per sq.ft in 2003, marking a significant change of +145%. The value further rose to Rs 1,500 per sq.ft in 2007, reflecting an increase of +158%. By 2012, the value remained at Rs 3,500 per sq.ft, showing no change from the previous revision. In 2023, the value was again Rs 3,500 per sq.ft, with the 2024 revision increasing it to Rs 3,850 per sq.ft, a change of +10% from the previous year.

There is no figure available for N.N.G.O. Colony 1st Cross Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +1,524%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means that the 2024 figure for N.N.G.O. Colony 1st Cross Street is below this median.

Stamp duty and registration fee for property in N.N.G.O. Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers N.N.G.O. Colony 1st Cross Street?

The N.N.G.O. Colony 1st Cross Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as the basis for calculating stamp duty and registration fees, ensuring that all transactions are conducted in accordance with the established rates.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration process reflects the true value of the property as per government standards.

Frequently asked questions

What is the current guideline value of N.N.G.O. Colony 1st Cross Street?

The current guideline value of N.N.G.O. Colony 1st Cross Street is Rs 3,850 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 237 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +1,524% over the years.

What is the registration office for N.N.G.O. Colony 1st Cross Street?

The registration office covering N.N.G.O. Colony 1st Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification for N.N.G.O. Colony 1st Cross Street?

N.N.G.O. Colony 1st Cross Street is classified as Residential Class II Type - III, which is important for understanding its usage and regulatory framework.