Guideline Value for N.N.G.O. Colony 3rd Main Road

N.N.G.O. Colony 3rd Main Road guideline value

The current guideline value of N.N.G.O. Colony 3rd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of N.N.G.O. Colony 3rd Main Road has changed

The guideline value for N.N.G.O. Colony 3rd Main Road has seen significant changes over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased to Rs 2,680 per sq.ft in the 2017 revision, marking a rise of 79%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a substantial increase of 64% from 2017.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. The register has no figures for the years 2002, 2003, 2012, and 2023 for this street.

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 value is Rs 4,400 per sq.ft, which is equal to the guideline value of N.N.G.O. Colony 3rd Main Road.

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

Stamp duty and registration fee for property in N.N.G.O. Colony 3rd Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers N.N.G.O. Colony 3rd Main Road?

The N.N.G.O. Colony 3rd Main Road is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Velachery. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of N.N.G.O. Colony 3rd Main Road?

The current guideline value of N.N.G.O. Colony 3rd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 1,500 per sq.ft to Rs 4,400 per sq.ft in 2024, which is an overall increase of 193%.

What are the stamp duty and registration fees for property in N.N.G.O. Colony 3rd Main Road?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the current guideline value of Rs 44,00,000.

Which Sub Registrar Office covers N.N.G.O. Colony 3rd Main Road?

The Velacheri Sub Registrar Office covers N.N.G.O. Colony 3rd Main Road, 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 Main Road?

The land classification for N.N.G.O. Colony 3rd Main Road is Residential Class II Type - II.