Guideline Value for New N.G.G.O Colony

New N.G.G.O Colony guideline value

The current guideline value of New N.G.G.O Colony, located in Thiruvallur village under the Tiruvallur Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of New N.G.G.O Colony has changed

The guideline value for New N.G.G.O Colony has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 200 per sq.ft. It increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvallur

In Thiruvallur village, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of New N.G.G.O Colony is equal to this median.

• N.G.G.O Colony: Rs 1,100 per sq.ft (2024)
• Nethaji Salai: Rs 2,750 per sq.ft (2024)
• North raja Street: Rs 1,650 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Pakthavatchalam Street: Rs 1,650 per sq.ft (2024)
• Pallavan Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in New N.G.G.O Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 details.

Which Sub Registrar Office covers New N.G.G.O Colony?

The Sub Registrar Office that covers New N.G.G.O Colony is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Thiruvallur. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When a property is sold, the buyer will need to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of New N.G.G.O Colony?

The current guideline value of New N.G.G.O Colony is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of New N.G.G.O Colony?

New N.G.G.O Colony is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in New N.G.G.O Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 99,000.

Which office handles property registrations for New N.G.G.O Colony?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations for New N.G.G.O Colony, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.