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Guideline Value

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Guideline Value for NEW COLONY MAIN ROAD & 1 TO 4 CROSS STREET

₹4400/sq.ft.

The guideline value for New Colony Main Road & 1 To 4 Cross Street in Saidapet village (Chennai South Joint Ii 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 - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Saidapet

Village

Chennai South Joint II

SRO

Residential Class II Type - II
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)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[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 Main Road & 1 To 4 Cross Street

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New Colony Main Road & 1 To 4 Cross Street guideline value

The current guideline value for New Colony Main Road & 1 To 4 Cross Street is Rs 4,400 per sq.ft. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of New Colony Main Road & 1 To 4 Cross Street has changed

Looking at the historical revisions, the guideline value for this street was Rs 4,000 per sq.ft in 2023, which increased to Rs 4,400 per sq.ft in the 2024 revision, reflecting a change of +10%. Prior to that, in 2017, the value was significantly lower at Rs 2,680 per sq.ft, marking a substantial increase of +49% to reach the 2023 figure. The 2012 revision recorded a value of Rs 4,000 per sq.ft, which represented a decrease of -33% compared to the 2017 figure.

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

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current figure for New Colony Main Road & 1 To 4 Cross Street.

Stamp duty and registration fee for property in New Colony Main Road & 1 To 4 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 accurate calculations.

Which Sub Registrar Office covers New Colony Main Road & 1 To 4 Cross Street?

The Sub Registrar Office that covers New Colony Main Road & 1 To 4 Cross Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property transactions.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for buyers and sellers to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value for New Colony Main Road & 1 To 4 Cross Street?

The current guideline value for New Colony Main Road & 1 To 4 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 from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, a change of +10%. From 2017 to 2023, it increased by +49% from Rs 2,680 per sq.ft.

What is the land classification for New Colony Main Road & 1 To 4 Cross Street?

The land classification for New Colony Main Road & 1 To 4 Cross Street is Residential Class II Type - II.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is applied to the higher of the guideline value or the sale price during registration.

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

You can find more information about the Sub Registrar Office that covers New Colony Main Road & 1 To 4 Cross Street, which is the Chennai South Joint II Sub Registrar Office, at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.