Guideline Value for New Colony 10th Street

New Colony 10th Street guideline value

The current guideline value for New Colony 10th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of New Colony 10th Street has changed

The guideline value for New Colony 10th Street has seen several changes over the years. The earliest recorded value in 2002 was Rs 291 per sq.ft. This increased to Rs 332 per sq.ft in 2003, marking a 14% rise. The value then saw significant increases, reaching Rs 900 per sq.ft in 2007, which was a 171% increase from the previous revision. By 2012, the value was Rs 3,500 per sq.ft, reflecting a substantial 289% increase from 2007. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value increased to Rs 3,500 per sq.ft in 2023, which was a 49% rise from 2017. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, indicating an 11% increase from the previous year. There are no figures available for other years in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the 2024 figure for New Colony 10th Street.

• New Colony 11th Street: Rs 3,900 per sq.ft (2024)
• New Colony 1st Lane: Rs 3,900 per sq.ft (2024)
• New Colony 1st Street: Rs 3,900 per sq.ft (2024)
• New Colony 2nd Lane: Rs 3,900 per sq.ft (2024)
• New Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• New Colony 2nd Street Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that 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 10th Street?

The Sub Registrar Office that covers New Colony 10th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of New Colony 10th Street?

The current guideline value of New Colony 10th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 291 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1240% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers New Colony 10th Street?

The Alandur Sub Registrar Office covers New Colony 10th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for New Colony 10th Street?

The land classification for New Colony 10th Street is Residential Class I Type - III.