Guideline Value for Telephone Colony

Telephone Colony guideline value

The current guideline value of Telephone Colony in Nanganallur village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Telephone Colony has changed

The guideline value for Telephone Colony has undergone several revisions over the years. In 2002, the value was Rs 281 per sq.ft, which increased to Rs 319 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,750 per sq.ft in 2007, and the value doubled to Rs 3,500 per sq.ft in 2012. However, it then dropped to Rs 2,345 per sq.ft in 2017. The values rose again to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,900 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, the increase was +14%. From 2003 to 2007, there was a substantial rise of +449%. The value then saw a +100% increase from 2007 to 2012, followed by a decrease of -33% from 2012 to 2017. The value increased by +49% from 2017 to 2023, and finally, there was an increase of +11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1288%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO with 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 current guideline value for Telephone Colony.

• Thiruvalluvar Street: Rs 2,800 per sq.ft (2024)
• T N G O Colony 1st 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 3rd 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)

Stamp duty and registration fee for property in Telephone Colony

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 duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Telephone Colony?

The Sub Registrar Office that covers Telephone Colony 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 crucial factor in determining the stamp duty and registration fees when buying or selling property in Nanganallur. It serves as a benchmark for calculating these costs, ensuring that they are based on the official valuation set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and transparent for all transactions.

Frequently asked questions

What is the current guideline value of Telephone Colony?

The current guideline value of Telephone Colony 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 281 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1288% over this period.

What are the stamp duty rates for property in Telephone Colony?

The stamp duty for property in Telephone Colony is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Telephone Colony?

Telephone Colony is classified as Residential Class I Type - II, indicating its designation for residential use within the area.