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 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 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 328 per sq.ft, which increased to Rs 373 per sq.ft in 2003, marking a change of +14%. The value saw a significant rise to Rs 1,200 per sq.ft in 2007, reflecting a +222% increase. Following this, the guideline value was revised to Rs 3,500 per sq.ft in 2012, which was a decrease of -33%. The value then increased to Rs 2,345 per sq.ft in 2017, showing a +49% change. In 2023, the guideline value rose again to Rs 3,500 per sq.ft, and the latest revision in 2024 set the value at Rs 3,900 per sq.ft, which is an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +1089%. There are no figures available for the revisions in years other than those listed.

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 2nd Street.

• 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 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 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 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 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 further calculations, you can use the stamp duty and registration fee calculator.

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 Nanganallur

The guideline value is a critical factor in the registration process when buying or selling property in Nanganallur. It serves as a benchmark 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 with the sale price, and the higher of the two 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 seen several revisions, starting from Rs 328 per sq.ft in 2002 to the current Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1089% over the years.

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

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

Where is the Sub Registrar Office for T N G O Colony 2nd Street located?

The Alandur Sub Registrar Office, which covers T N G O Colony 2nd Street, 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 Street?

T N G O Colony 2nd Street is classified as Residential Class I Type - II according to the local land classification regulations.