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Guideline Value

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Guideline Value for NEW COLONY 7TH MAIN ROAD 1 TO 4 STREETS

₹4400/sq.ft.

The guideline value for New Colony 7th Main Road 1 To 4 Streets in Zaminpallavaram village (Pallavaram SRO, Chengalpattu 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 Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Zaminpallavaram

Village

Pallavaram

SRO

Commercial Class I Type - III
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 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044
044-22413425
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on New Colony 7th Main Road 1 To 4 Streets

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New Colony 7th Main Road 1 To 4 Streets guideline value

The current guideline value for New Colony 7th Main Road 1 To 4 Streets is Rs 4,400 per sq.ft, effective from July 1, 2024. This area is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - III.

How the guideline value of New Colony 7th Main Road 1 To 4 Streets has changed

The guideline value for New Colony 7th Main Road 1 To 4 Streets has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017, marking a decline of 33%. In 2023, the guideline value increased to Rs 4,000 per sq.ft, and then further rose to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to the 2012 level. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, and the 2024 figure for New Colony 7th Main Road 1 To 4 Streets is above this median.

Stamp duty and registration fee for property in New Colony 7th Main Road 1 To 4 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Colony 7th Main Road 1 To 4 Streets?

The Sub Registrar Office that covers New Colony 7th Main Road 1 To 4 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

When a property is sold, the guideline value is used to assess the applicable taxes. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. Therefore, understanding the guideline value is essential for both buyers and sellers to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value for New Colony 7th Main Road 1 To 4 Streets?

The current guideline value for New Colony 7th Main Road 1 To 4 Streets is Rs 4,400 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for this area?

The land classification for New Colony 7th Main Road 1 To 4 Streets is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office for New Colony 7th Main Road 1 To 4 Streets is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.