Guideline Value for T N G O Colony 2nd Street

T N G O Colony 2nd Street guideline value

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

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

The guideline value for T N G O Colony 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 322 per sq.ft. This increased to Rs 367 per sq.ft in 2003, marking a change of +14%. The value saw a significant rise to Rs 900 per sq.ft in 2007, which was an increase of +145%. Following that, the value jumped to Rs 3,500 per sq.ft in 2012, reflecting a remarkable increase of +289%. However, it decreased to Rs 2,345 per sq.ft in 2017, a drop of -33%. The value then rose to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,900 per sq.ft, which is an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1111%. The register has no figures for the years not mentioned above.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median being Rs 3,900 per sq.ft. T N G O Colony 2nd Street's 2024 figure is equal to this median.

• T N G O Colony 2nd Cross 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 1st 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. 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 T N G O Colony 2nd Street?

The Sub Registrar Office that covers T N G O Colony 2nd 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 critical factor in the registration process when buying or selling property in Adambakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

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

The current guideline value of T N G O Colony 2nd 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 322 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1111% over the years.

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

The stamp duty rate for property in T N G O Colony 2nd 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.

How do I calculate the registration fees for property in T N G O Colony 2nd Street?

To calculate the registration fees, you can refer to the guideline value and apply the registration fee rate of 2%. You can also use the stamp duty and registration fee calculator for assistance.