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 Nanganallur village, under the jurisdiction of the Alandur SRO, and is classified as Residential Class I Type - II.

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 328 per sq.ft, which increased to Rs 373 per sq.ft in 2003, marking a 14% rise. The value then experienced significant growth, reaching Rs 1,200 per sq.ft in 2007, an increase of 222%. By 2012, the value was Rs 3,500 per sq.ft, reflecting a 192% increase from 2007. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision, which is an 11% increase from the previous year.

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

Nanganallur village has a total of 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 for these streets is Rs 3,900 per sq.ft, which matches 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 5th 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 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value, 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 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 detailed calculations.

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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, with the higher of the two being used for calculating 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 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 328 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1089% over this period.

What is the land classification of T N G O Colony 3rd Street?

T N G O Colony 3rd Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in T N G O Colony 3rd Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for T N G O Colony 3rd Street located?

The Sub Registrar Office for 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.