Guideline Value

Corporate

Guideline Value for New Colony 3rd Street

₹4400/sq.ft.

The guideline value for New Colony 3rd Street 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 3rd Street

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New Colony 3rd Street guideline value

The current guideline value of New Colony 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of New Colony 3rd Street has changed

The guideline value for New Colony 3rd Street has seen several revisions over the years. Starting from Rs 695 per sq.ft in 2002, the value increased to Rs 770 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 1,100 per sq.ft, which was a 43% increase. The 2012 revision saw the value reach Rs 4,000 per sq.ft, reflecting a substantial increase of 264%. However, in 2017, it dropped to Rs 2,680 per sq.ft, showing a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 533%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Virugambakkam

In Virugambakkam village, 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 guideline value is Rs 4,400 per sq.ft, which is equal to the current guideline value of New Colony 3rd Street.

Stamp duty and registration fee for property in New Colony 3rd 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 and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Colony 3rd Street?

The Sub Registrar Office that covers New Colony 3rd Street 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 an essential factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is crucial for buyers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of New Colony 3rd Street?

The current guideline value of New Colony 3rd 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 695 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, with several revisions in between. The most significant increase occurred from 2007 to 2012, where it rose to Rs 4,000 per sq.ft.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, which is the same as the current guideline value for New Colony 3rd Street.

What are the stamp duty and registration fees for properties in New Colony 3rd Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value.

Where is the Sub Registrar Office for New Colony 3rd Street located?

The Sub Registrar Office for New Colony 3rd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. This office handles registrations for properties in the area.