Guideline Value for T N G O Colony 1st Street

T N G O Colony 1st Street guideline value

The current guideline value of T N G O Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of T N G O Colony 1st Street has changed

The guideline value for T N G O Colony 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 328 per sq.ft. This figure increased to Rs 373 per sq.ft in 2003, marking a 14% rise. The value then saw a significant jump to Rs 1,200 per sq.ft in 2007, which was a 222% increase. In 2012, the value was revised to Rs 3,500 per sq.ft, reflecting a 192% increase from the previous figure. However, it then decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 3,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, an increase of 11% from the previous year. There are no figures for other revisions for this street in the register.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of T N G O Colony 1st Street.

• T N G O Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 4th Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 5th Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 6th Street: Rs 3,900 per sq.ft (2024)
• T N G O COLONY 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in T N G O Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers T N G O Colony 1st Street?

The T N G O Colony 1st Street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

When buying or selling property in Nanganallur, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the established values set by the Registration Department.

The guideline value is essential for both buyers and sellers, as it provides a clear understanding of the minimum value that will be considered for registration purposes. This ensures transparency in property transactions and helps in the proper assessment of taxes associated with the sale.

Frequently asked questions

What is the current guideline value of T N G O Colony 1st Street?

The current guideline value of T N G O Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 328 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1089% over the years.

What is the land classification for T N G O Colony 1st Street?

T N G O Colony 1st Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

Which Sub Registrar Office covers T N G O Colony 1st Street?

The Alandur Sub Registrar Office covers T N G O Colony 1st Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in T N G O Colony 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 39,00,000, leading to a stamp duty of Rs 2,73,000.