Guideline Value

Corporate

Guideline Value for NEW INDIA COLONY MAIN ROAD

₹3900/sq.ft.

The guideline value for New India Colony Main Road in Perungudi village (Neelankarai SRO, Chennai zone) is Rs 3900 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Perungudi

Village

Neelankarai

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3900 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /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)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[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 India Colony Main Road

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New India Colony Main Road guideline value

The current guideline value of New India Colony Main Road is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of New India Colony Main Road has changed

The guideline value for New India Colony Main Road has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. In 2023, the value increased to Rs 3,500 per sq.ft, and currently, in 2024, it stands at Rs 3,900 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. The revision from 2023 to 2024 shows an increase of 11%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 11% in the guideline value.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing New India Colony Main Road's 2024 figure above the median.

Stamp duty and registration fee for property in New India Colony Main Road

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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New India Colony Main Road?

The Sub Registrar Office that covers New India Colony Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New India Colony Main Road?

The current guideline value of New India Colony Main Road 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 from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and currently, it is Rs 3,900 per sq.ft in 2024.

What is the stamp duty rate for properties in New India Colony Main Road?

The stamp duty rate for properties in New India Colony Main Road is 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 India Colony Main Road is 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in New India Colony Main Road?

The Neelankarai Sub Registrar Office handles property registrations for New India Colony Main Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.