Guideline Value for NGO NAGAR PHASE I ANNEX

Ngo Nagar Phase I Annex guideline value

The current guideline value for Ngo Nagar Phase I Annex is Rs 1,430 per sq.ft. This property is located in Nedunkumdram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Ngo Nagar Phase I Annex has changed

The guideline value for Ngo Nagar Phase I Annex has seen significant changes over the years. The 2017 revision set the guideline value at Rs 871 per sq.ft. This increased to Rs 1,300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision, effective from 1 July 2024, has further increased the value to Rs 1,430 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nedunkumdram

Nedunkumdram village has a range of guideline values across its 75 streets under the Tambaram Joint 1 SRO, with values ranging from Rs 330 to Rs 5,300 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, positioning Ngo Nagar Phase I Annex below this median value.

• Ngo Nagar Phase I: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase II,III,IV: Rs 1,320 per sq.ft (2024)
• Ngo Nagar: Rs 1,430 per sq.ft (2024)
• New Town: Rs 1,440 per sq.ft (2024)
• Parijatham Nagar: Rs 1,660 per sq.ft (2024)
• Park Land: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Ngo Nagar Phase I Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, making the total fees together Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ngo Nagar Phase I Annex?

The Ngo Nagar Phase I Annex falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Nedunkumdram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps in assessing the official worth of the property, which is essential for legal documentation. This value is used to calculate the necessary fees that must be paid to complete the transaction.

Frequently asked questions

What is the current guideline value for Ngo Nagar Phase I Annex?

The current guideline value for Ngo Nagar Phase I Annex is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 871 per sq.ft in 2017 to Rs 1,430 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 14,30,000, the total stamp duty would be Rs 1,00,100, and the registration fee would be Rs 28,600, totaling Rs 1,28,700.

Which Sub Registrar Office covers this property?

The property falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Ngo Nagar Phase I Annex?

The land classification for Ngo Nagar Phase I Annex is Residential Special Type - II, indicating its designated use for residential purposes.