Guideline Value for N.N.G.O. Colony 3rd Cross Street

N.N.G.O. Colony 3rd Cross Street guideline value

The current guideline value of N.N.G.O. Colony 3rd 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 3rd Cross Street has changed

The guideline value for N.N.G.O. Colony 3rd Cross Street has undergone several revisions since 2002. The earliest recorded value in 2002 was Rs 312 per sq.ft, which increased to Rs 581 per sq.ft in 2003, marking an increase of 86%. The value then rose significantly to Rs 1,500 per sq.ft in 2007, reflecting a 158% increase. By 2012, the guideline value reached Rs 3,500 per sq.ft, showing a substantial increase of 133% from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, which was a decline of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,850 per sq.ft, representing an increase of 64% from 2017.

It is important to note that there is no figure for N.N.G.O. Colony 3rd Cross Street in the 2023 revision.

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 3rd Cross Street is below this median.

• N.N.G.O. Colony 2nd Street: Rs 3,850 per sq.ft (2024)
• N.N.G.O. Colony 3rd Layout: Rs 3,850 per sq.ft (2024)
• N.N.G.O. Colony 2nd Main Road, Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• N.N.G.O. Colony 3rd Main Road: Rs 4,400 per sq.ft (2024)
• N.N.G.O. Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• N.N.G.O. Colony 3rd Main Road, Brindavan Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in N.N.G.O. Colony 3rd 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, these fees would total Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or 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 3rd Cross Street?

N.N.G.O. Colony 3rd Cross Street falls under the jurisdiction of the Velacheri Sub Registrar Office. The office is 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 of property transactions in Velachery. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to be informed about the guideline value, as it directly affects the costs associated with property registration. Understanding this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of N.N.G.O. Colony 3rd Cross Street?

The current guideline value of N.N.G.O. Colony 3rd 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 312 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 1134%.

What are the registration fees for property in N.N.G.O. Colony 3rd Cross Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers N.N.G.O. Colony 3rd Cross Street?

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

What is the land classification for N.N.G.O. Colony 3rd Cross Street?

N.N.G.O. Colony 3rd Cross Street is classified as Residential Class II Type - III.