Guideline Value for NGO NAGAR

Ngo Nagar guideline value

The current guideline value of Ngo Nagar, located in Nedunkumdram village, is Rs 1,430 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Ngo Nagar has changed

The guideline value for Ngo Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,300 per sq.ft, which decreased to Rs 871 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,300 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,430 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nedunkumdram

Nedunkumdram village has 75 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 5,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ngo Nagar's 2024 figure below this median.

• Ngo Nagar Phase I: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase I Annex: Rs 1,430 per sq.ft (2024)
• Ngo Nagar Phase II,III,IV: Rs 1,320 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would amount to Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, totaling 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 use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ngo Nagar?

Ngo Nagar is covered by 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 serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ngo Nagar?

The current guideline value of Ngo Nagar 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 changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then back to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,430 per sq.ft in 2024.

What is the classification of land in Ngo Nagar?

Ngo Nagar is classified as Residential Special Type - II under the guideline value register.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, MES Road, East Tambaram, Chennai-600059.

How is stamp duty calculated in Ngo Nagar?

Stamp duty in Ngo Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 14,30,000, the stamp duty would be Rs 1,00,100 at 7%.