Guideline Value

Corporate

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

₹3850/sq.ft.

The guideline value for N.n.g.o. Colony 3rd Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
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 3rd Street

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

The current guideline value of N.N.G.O. Colony 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

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

The guideline value for N.N.G.O. Colony 3rd Street has seen several revisions over the years. Starting from Rs 473 per sq.ft in 2002, it increased to Rs 581 per sq.ft in 2003, marking a rise of 23%. The value then surged significantly to Rs 1,500 per sq.ft in 2007, reflecting a 158% increase. In 2012, the guideline value reached Rs 3,500 per sq.ft, an increase of 133% from the previous revision. However, it experienced a decline to Rs 2,345 per sq.ft in 2017, which was a drop of 33%.

From 2017 to the latest revision in 2024, the guideline value increased by 64%, bringing it to Rs 3,850 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 714%. It is important to note that the register has no figure for this street in 2023.

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 for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for N.N.G.O. Colony 3rd Street is below this median.

Stamp duty and registration fee for property in N.N.G.O. Colony 3rd 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 is charged at 7%, which totals Rs 2,69,500, and the registration fee is 2%, amounting to Rs 77,000. Together, the total cost for stamp duty and registration fee would be 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 Street?

The N.N.G.O. Colony 3rd 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 factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the sale price is reflective of the area's market conditions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Street?

The current guideline value of N.N.G.O. Colony 3rd 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 473 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 714% over the years.

What is the stamp duty rate for property in N.N.G.O. Colony 3rd Street?

The stamp duty rate for property transactions in N.N.G.O. Colony 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for N.N.G.O. Colony 3rd Street?

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

Are there any other streets in Velachery with guideline values?

Yes, there are other streets in Velachery under the Velacheri SRO with varying guideline values, ranging from Rs 3,300 to Rs 13,200 per sq.ft.