Guideline Value

Corporate

Guideline Value for New Colony : -

₹4950/sq.ft.

The guideline value for New Colony : - in Velachery village (Velacheri SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. It was Rs 4500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 ₹4500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 ₹346 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹308 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 : -

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New Colony : - guideline value

The current guideline value for New Colony : - is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Colony : - has changed

The guideline value for New Colony : - has undergone several revisions over the years. In 2002, the value was Rs 308 per sq.ft, which increased significantly to Rs 346 per sq.ft in 2003. The next recorded revision was in 2012, where the value was Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in 2017. The 2023 revision saw an increase to Rs 4,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 4,950 per sq.ft. The register has no figure for this street in 2007.

From 2017 to 2023, the value increased by 49%. The jump from 2003 to 2012 was a remarkable 1201%, while from 2012 to 2017, there was a decrease of 33%. The overall increase from 2002 to 2024 stands at 1507%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing New Colony : - above this median.

Stamp duty and registration fee for property in New Colony : -

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, making the total cost Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Colony : -?

The Sub Registrar Office that covers New Colony : - is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value for New Colony : -?

The current guideline value for New Colony : - is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 4,500 per sq.ft in 2023 to Rs 4,950 per sq.ft in 2024. The overall increase from 2002 to 2024 is 1507%.

What is the land classification for New Colony : -?

New Colony : - is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for New Colony : -?

The Velacheri Sub Registrar Office covers New Colony : - and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in New Colony : -?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at a rate of 7%.