Guideline Value for NEW COLONY 8TH CROSS ST EXTN

New Colony 8th Cross St Extn guideline value

The current guideline value of New Colony 8th Cross St Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, with a land classification of Mixed Type - I.

How the guideline value of New Colony 8th Cross St Extn has changed

The guideline value for New Colony 8th Cross St Extn has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft. This increased to Rs 3,750 per sq.ft in 2023, marking a 7% rise. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, reflecting a 3% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for the village is Rs 3,300 per sq.ft, placing New Colony 8th Cross St Extn above this median.

• New Colony 7th Main Road 1 To 4 Streets: Rs 4,400 per sq.ft (2024)
• New Colony 8th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 7th Main Road: Rs 4,400 per sq.ft (2024)
• New Colony 9th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 7th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 6th Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 8th Cross St Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Colony 8th Cross St Extn?

The Sub Registrar Office that covers New Colony 8th Cross St Extn 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 during the registration of property transactions in Zaminpallavaram. It helps determine the stamp duty and registration fees payable, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price; otherwise, it is based on the guideline value.

Frequently asked questions

What is the current guideline value of New Colony 8th Cross St Extn?

The current guideline value of New Colony 8th Cross St Extn is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, reflecting a total increase of 10% over this period.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, with New Colony 8th Cross St Extn's value being above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in New Colony 8th Cross St Extn is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.