Guideline Value for T N G O Colony 2nd Cross Street

T N G O Colony 2nd Cross Street guideline value

The current guideline value for T N G O Colony 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of T N G O Colony 2nd Cross Street has changed

The guideline value for T N G O Colony 2nd Cross Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 299 per sq.ft. In 2003, it increased to Rs 341 per sq.ft, marking a 14% rise. The value further increased to Rs 900 per sq.ft in 2007, reflecting a significant 164% change. The 2012 revision saw the value rise to Rs 3,500 per sq.ft, indicating a 289% increase. However, in 2017, the value dropped to Rs 2,345 per sq.ft, which was a decrease of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1204%. Notably, there are no figures available for the years not mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the 2024 figure for T N G O Colony 2nd Cross Street.

• T N G O Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• T N G O Colony 1st 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 Extension: Rs 3,900 per sq.ft (2024)
• T N G O Colony First Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in T N G O Colony 2nd Cross 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, bringing the total fees together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T N G O Colony 2nd Cross Street?

The Sub Registrar Office that covers T N G O Colony 2nd Cross Street is 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 Adambakkam

The guideline value is a crucial factor in the registration process of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing the legal value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value for T N G O Colony 2nd Cross Street?

The current guideline value for T N G O Colony 2nd Cross 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 significantly from Rs 299 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1204% over the years.

What is the stamp duty for property in T N G O Colony 2nd Cross Street?

The stamp duty for property in T N G O Colony 2nd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for T N G O Colony 2nd Cross Street?

The land classification for T N G O Colony 2nd Cross Street is Residential Class I Type - III.