Guideline Value for New Colony (V.O.C.)Ist Street

New Colony (V.O.C.)Ist Street guideline value

The current guideline value of New Colony (V.O.C.)Ist Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Colony (V.O.C.)Ist Street has changed

In the 2007 revision, the guideline value was Rs 1,200 per sq.ft. This figure saw a significant increase in the 2012 revision, where it remained at Rs 5,000 per sq.ft. The 2023 revision also maintained this rate of Rs 5,000 per sq.ft. However, in the 2024 revision, the guideline value decreased to Rs 4,400 per sq.ft, marking a change of -12% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. Notably, there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, making New Colony (V.O.C.)Ist Street's 2024 figure of Rs 4,400 per sq.ft below the median.

• New Colony (V.O.C.): Rs 4,400 per sq.ft (2024)
• New Mandapam Road: Rs 4,400 per sq.ft (2024)
• New Avadi Road(Highways Road) (Gandhi Nagar): Rs 4,400 per sq.ft (2024)
• Netta Muthialkhan Street & Lane: Rs 4,400 per sq.ft (2024)
• New Street: Rs 4,400 per sq.ft (2024)
• New Street 2nd Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony (V.O.C.)Ist Street

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, totaling Rs 3,96,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers New Colony (V.O.C.)Ist Street?

The New Colony (V.O.C.)Ist Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, ensuring that the transaction complies with local regulations.

During registration, 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 of New Colony (V.O.C.)Ist Street?

The current guideline value of New Colony (V.O.C.)Ist 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 1,200 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2012 and 2023, before decreasing to Rs 4,400 per sq.ft in 2024.

What is the land classification for New Colony (V.O.C.)Ist Street?

The land classification for New Colony (V.O.C.)Ist Street is Residential Class II Type - I.

Where can I find the registration office for this street?

The registration office for New Colony (V.O.C.)Ist Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value.