Guideline Value for T N G O Colony 3rd Street

T N G O Colony 3rd Street guideline value

The current guideline value of T N G O Colony 3rd 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 3rd Street has changed

The guideline value for T N G O Colony 3rd Street has seen several revisions over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 215 per sq.ft in 2003. The value then rose significantly to Rs 900 per sq.ft in 2007, followed by a substantial increase to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023 before reaching the current value of Rs 3,900 per sq.ft in 2024.

Between these revisions, notable changes include a 289% increase from 2007 to 2012, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1974%. There are no figures available for years other than those listed.

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. The median value among these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of T N G O Colony 3rd Street.

• T N G O Colony 2nd 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 2nd Cross 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 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the 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, totaling Rs 3,51,000. 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 more details.

Which Sub Registrar Office covers T N G O Colony 3rd Street?

The Sub Registrar Office that covers T N G O Colony 3rd 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 additional information.

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

The guideline value is a crucial factor in property transactions in Adambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as a baseline for calculating stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of T N G O Colony 3rd Street?

The current guideline value of T N G O Colony 3rd 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 from Rs 188 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a significant overall increase of 1974% over the years.

What is the stamp duty for property in T N G O Colony 3rd Street?

The stamp duty for property in T N G O Colony 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for T N G O Colony 3rd Street?

The Alandur Sub Registrar Office handles registrations for T N G O Colony 3rd Street, 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 3rd Street?

T N G O Colony 3rd Street is classified as Residential Class I Type - III, indicating its designation for residential use within the area.