Guideline Value for NGO NAGAR PHASE II,III,IV

Ngo Nagar Phase II,III,IV guideline value

The current guideline value for Ngo Nagar Phase II, III, and IV is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Nedunkumdram village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Special Type - III.

How the guideline value of Ngo Nagar Phase II,III,IV has changed

The guideline value for Ngo Nagar Phase II, III, and IV has seen several revisions over the years. The earliest recorded revision for this street is from 2012, which set the value at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The subsequent revision in 2023 increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 raised it to Rs 1,320 per sq.ft.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The most recent change from 2023 to 2024 shows an increase of 10%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Nedunkumdram

Nedunkumdram village has a variety of guideline values across its 75 streets under the Tambaram Joint 1 SRO. The 2024 guideline values range from Rs 330 to Rs 5,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Ngo Nagar Phase II, III, and IV is below this median.

• Ngo Nagar Phase I Annex: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase I: Rs 1,430 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 II,III,IV

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. 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 information on fees applicable to your property transaction.

Which Sub Registrar Office covers Ngo Nagar Phase II,III,IV?

The Sub Registrar Office that covers Ngo Nagar Phase II, III, and IV is 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nedunkumdram. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. The guideline value is set by the government and is periodically revised to reflect market conditions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ngo Nagar Phase II,III,IV?

The current guideline value for Ngo Nagar Phase II, III, and IV is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 increasing it to Rs 1,320 per sq.ft from Rs 1,200 per sq.ft in 2023, marking a 10% increase.

What is the land classification for Ngo Nagar Phase II,III,IV?

The land classification for Ngo Nagar Phase II, III, and IV is Residential Special Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Ngo Nagar Phase II,III,IV?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ngo Nagar Phase II, III, and IV, located at No.26, Mes Road, East Tambaram, Chennai-600059.