Guideline Value for T N G O Colony 5th Street

T N G O Colony 5th Street guideline value

The current guideline value for T N G O Colony 5th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - II.

How the guideline value of T N G O Colony 5th Street has changed

The guideline value for T N G O Colony 5th Street has undergone several revisions over the years. In 2002, the guideline value was Rs 328 per sq.ft, which increased to Rs 373 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 3,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 2,345 per sq.ft. The most recent revisions show a rise to Rs 3,500 per sq.ft in 2023, and the current value is Rs 3,900 per sq.ft from the 2024 revision, reflecting an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,089%. The register has no figures for the years between 2012 and 2017, as well as for the years prior to 2002 and after 2024.

Guideline values in Nanganallur

Nanganallur 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 guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the current value for T N G O Colony 5th Street.

• T N G O Colony 4th 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)
• T N G O Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in T N G O Colony 5th 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 is charged at 7%, which totals Rs 2,73,000, and the registration fee is charged at 2%, amounting to Rs 78,000. Together, the total fees would be 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers T N G O Colony 5th Street?

The T N G O Colony 5th Street falls under the jurisdiction of 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 crucial metric used during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating applicable fees and ensuring compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of T N G O Colony 5th Street?

The current guideline value of T N G O Colony 5th 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 1,089% over this period.

What is the land classification for T N G O Colony 5th Street?

The land classification for T N G O Colony 5th Street is Residential Class I Type - II.

Which office handles registrations for this area?

The Alandur Sub Registrar Office handles registrations for T N G O Colony 5th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Nanganallur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,900 per sq.ft would incur a total guideline value of Rs 39,00,000, leading to a stamp duty of Rs 2,73,000.