Guideline Value

Corporate

Guideline Value for New Colony Main Road

₹4400/sq.ft.

The guideline value for New Colony Main Road in Virugambakkam village (Virugambakkam 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 Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class III Type - I
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 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹770 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹695 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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

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New Colony Main Road guideline value

The current guideline value of New Colony Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Virugambakkam village, which falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of New Colony Main Road has changed

The guideline value for New Colony Main Road has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 695 per sq.ft. This increased to Rs 770 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 1,100 per sq.ft in 2007, reflecting a 43% increase. In 2012, the value was recorded at Rs 4,000 per sq.ft, which was a substantial 264% increase from the previous revision. However, this figure dropped to Rs 2,680 per sq.ft in 2017, indicating a decrease of 33%.

Following the 2017 revision, the guideline value increased to Rs 4,000 per sq.ft in 2023, a 49% rise. The most recent revision in 2024 has set the value at Rs 4,400 per sq.ft, representing a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which matches the 2024 figure for New Colony Main Road.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Colony Main Road?

The Sub Registrar Office that covers New Colony Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Virugambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. The guideline value reflects the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a buyer or seller engages in a property transaction, the guideline value helps in assessing the appropriate fees. This ensures transparency and compliance with local regulations, making the process smoother for all parties involved.

Frequently asked questions

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

The current guideline value of New Colony Main Road 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 695 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 533% over the years.

What is the land classification for New Colony Main Road?

The land classification for New Colony Main Road is Residential Class III Type - I.

Where can I find the Sub Registrar Office for New Colony Main Road?

The Sub Registrar Office for New Colony Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in New Colony Main Road?

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