Guideline Value for T N G O Colony Extension

T N G O Colony Extension guideline value

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

How the guideline value of T N G O Colony Extension has changed

The guideline value for T N G O Colony Extension has seen several revisions over the years. In 2002, the value was Rs 299 per sq.ft, which rose to Rs 341 per sq.ft in 2003. The value continued to increase significantly, reaching Rs 900 per sq.ft in 2007, then soaring to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017 before climbing back to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 sets the value at Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,204%. The changes between revisions include a 49% rise from 2017 to 2023, a 33% decrease from 2012 to 2017, a remarkable 289% increase from 2007 to 2012, a 164% rise from 2003 to 2007, and a 14% increase from 2002 to 2003. The register has no figure for the years not mentioned in the revisions.

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 value being Rs 3,900 per sq.ft. The guideline value for T N G O Colony Extension aligns with this median.

• T N G O Colony First Cross 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 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 2nd Cross 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 Extension

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 charges 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T N G O Colony Extension?

The Sub Registrar Office that covers T N G O Colony Extension 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of T N G O Colony Extension?

The current guideline value of T N G O Colony Extension 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 299 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking a total increase of 1,204% over the years.

What are the stamp duty and registration fees for property in T N G O Colony Extension?

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

Which office handles property registration for T N G O Colony Extension?

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

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum registration price for properties, ensuring that transactions are recorded at a fair value for both buyers and sellers.