Guideline Value for New Century Colony

New Century Colony guideline value

The current guideline value of New Century Colony, located in 5. Athipattu village under the Konnur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of New Century Colony has changed

The guideline value for New Century Colony has seen significant changes over the years. In the 2017 revision, the value was Rs 1,474 per sq.ft. This increased to Rs 2,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, the guideline values vary across 119 streets under the Konnur SRO, with figures ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, placing New Century Colony's 2024 figure above this median.

• Nethaji street: Rs 1,300 per sq.ft (2024)
• Nehru Street 2Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Nehru Street 1Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• N.S.K. Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Narmada Street (ICF Colony): Rs 2,400 per sq.ft (2024)
• Padasalai Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Century Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Century Colony?

The New Century Colony falls under the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value plays a crucial role during the registration of property transactions in 5. Athipattu. It is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When selling property, the guideline value serves as a reference point for determining the minimum price at which a property can be sold. This ensures that the transaction is in compliance with the legal requirements set by the registration authorities.

Frequently asked questions

What is the current guideline value of New Century Colony?

The current guideline value of New Century Colony is Rs 2,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,474 per sq.ft to Rs 2,400 per sq.ft in 2024, which is an overall increase of 63%.

What is the median guideline value in 5. Athipattu?

The median guideline value in 5. Athipattu is Rs 2,200 per sq.ft, with New Century Colony's value being above this median.

What are the stamp duty rates for property in New Century Colony?

The stamp duty rate for property in New Century Colony is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for properties in New Century Colony?

The Konnur Sub Registrar Office handles registrations for properties in New Century Colony, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.