Guideline Value

Corporate

Guideline Value for New Colony 4th Street

₹4400/sq.ft.

The guideline value for New Colony 4th 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 4th Street

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New Colony 4th Street guideline value

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

How the guideline value of New Colony 4th Street has changed

The guideline value for New Colony 4th Street has seen several revisions over the years. In 2002, the guideline value was Rs 695 per sq.ft, which 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. Following this, the guideline value surged to Rs 4,000 per sq.ft in 2012, a substantial 264% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, which was a 33% drop. The guideline value then increased to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, representing a 10% rise.

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, 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 the same as the current value for New Colony 4th Street.

Stamp duty and registration fee for property in New Colony 4th 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, making the total Rs 3,96,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Colony 4th Street?

The Sub Registrar Office that covers New Colony 4th 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 in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for New Colony 4th Street?

The current guideline value for New Colony 4th 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 significantly from Rs 695 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 533% over the years.

What is the land classification for New Colony 4th Street?

The land classification for New Colony 4th Street is Residential Class III Type - I.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in New Colony 4th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,08,000.