Guideline Value

Corporate

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

₹3850/sq.ft.

The guideline value for N.n.g.o. Colony 1st 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 ₹473 /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 Street

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

The current guideline value of N.N.G.O. Colony 1st 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 Street has changed

The guideline value for N.N.G.O. Colony 1st Street has undergone several revisions since 2002. The 2002 revision set the value at Rs 473 per sq.ft, which increased to Rs 581 per sq.ft in 2003, marking a change of +23%. In 2007, the value rose significantly to Rs 1,500 per sq.ft, reflecting an increase of +158%. The 2012 revision maintained the value at Rs 3,500 per sq.ft, which remained unchanged until the 2023 revision.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, and the latest revision in 2024 increased it to Rs 3,850 per sq.ft, a change of +10%. Notably, there is no figure for this street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +714%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing N.N.G.O. Colony 1st Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to 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, you can use the stamp duty and registration fee calculator.

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

The N.N.G.O. Colony 1st Street is covered by 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 aspect of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

In practice, the guideline value helps both buyers and sellers understand the financial implications of their transactions. It provides a clear framework for calculating the necessary fees, facilitating a smoother registration process.

Frequently asked questions

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

The current guideline value of N.N.G.O. Colony 1st 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 multiple times, starting from Rs 473 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +714% over the years.

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

N.N.G.O. Colony 1st Street is classified as Residential Class II Type - III, indicating its designation for residential use.

Where can I find the registration office for N.N.G.O. Colony 1st Street?

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

How is stamp duty calculated for properties in N.N.G.O. Colony 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.