Guideline Value for NGO NAGAR EXTENSION

Ngo Nagar Extension guideline value

The current guideline value of Ngo Nagar Extension in Peruveli village is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Ngo Nagar Extension has changed

Over the years, the guideline value for Ngo Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision saw an increase to Rs 134 per sq.ft, marking a significant rise of 49% from the previous figure. However, the 2024 revision reverted back to Rs 200 per sq.ft, representing a 0% change from 2023.

In summary, the guideline value has fluctuated between Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in the revisions of 2012, 2023, and 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Peruveli

In Peruveli, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft, with the median value being Rs 200 per sq.ft. The guideline value for Ngo Nagar Extension aligns with this median value.

• Priyam Garden: Rs 200 per sq.ft (2024)
• Kamadenu Nagar: Rs 251 per sq.ft (2024)
• J.J.Nagar Extention - I: Rs 100 per sq.ft (2024)
• Sri Jayalakshmi Avenue: Rs 126 per sq.ft (2024)
• Sri Sai Nagar Phase - I: Rs 250 per sq.ft (2024)
• Aishwarya Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Ngo Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ngo Nagar Extension?

The Sub Registrar Office that covers Ngo Nagar Extension is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Peruveli. It serves as a reference point for determining the stamp duty and registration fees that are payable during the sale or purchase of property.

When buyers and sellers engage in a transaction, the guideline value helps ensure that the property is valued accurately for the purpose of taxation. This value is essential for compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ngo Nagar Extension?

The current guideline value of Ngo Nagar Extension is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, except for a decrease to Rs 134 per sq.ft in 2017. It then returned to Rs 200 per sq.ft in the 2024 revision.

What is the land classification for Ngo Nagar Extension?

Ngo Nagar Extension is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Ngo Nagar Extension?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Ngo Nagar Extension?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at a rate of 7%.