Guideline Value

Corporate

Guideline Value for NEW COLONY 1ST CROSS STREET

₹4400/sq.ft.

The guideline value for New Colony 1st Cross Street in Saidapet village (Chennai South Joint I SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saidapet

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹946 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹822 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Colony 1st Cross Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

New Colony 1st Cross Street guideline value

The current guideline value of New Colony 1st Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of New Colony 1st Cross Street has changed

The guideline value for New Colony 1st Cross Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 822 per sq.ft. This increased to Rs 946 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase of 37% to reach Rs 1,300 per sq.ft in 2007. Following this, the 2012 revision recorded a guideline value of Rs 4,000 per sq.ft, reflecting a substantial 208% increase from the previous revision. However, this value dropped by 33% to Rs 2,680 per sq.ft in 2017.

In the 2023 revision, the guideline value rose to Rs 4,000 per sq.ft, and then it increased by 10% to the current rate of Rs 4,400 per sq.ft in the 2024 revision. Overall, from 2002 to 2024, the guideline value has increased by 435%. There are no figures available for revisions in years not listed in the register.

Guideline values in Saidapet

Saidapet village has a total of 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for New Colony 1st Cross Street is above this median.

Stamp duty and registration fee for property in New Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the 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 details.

Which Sub Registrar Office covers New Colony 1st Cross Street?

The Sub Registrar Office that covers New Colony 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to the registration of property in Saidapet. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay during the transaction. This ensures that the government collects the appropriate revenue from property transactions.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This means that even if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value of New Colony 1st Cross Street?

The current guideline value of New Colony 1st Cross Street is Rs 4,400 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 822 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 435% over the years.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in New Colony 1st Cross Street is charged at 7% of the guideline value or the sale price, whichever is higher.

What is the registration fee for properties in this area?

The registration fee for properties in New Colony 1st Cross Street is 2% of the guideline value or the sale price, whichever is higher.

Where can I find more information about the Sub Registrar Office?

The Chennai South Joint I Sub Registrar Office covers New Colony 1st Cross Street. You can find more information about it by visiting the relevant link provided.