Guideline Value for New Colony 11th Cross Street

New Colony 11th Cross Street guideline value

The current guideline value of New Colony 11th Cross Street is Rs 4,400 per sq.ft, effective from the 2024 revision. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Commercial Class I Type - III.

How the guideline value of New Colony 11th Cross Street has changed

The guideline value for New Colony 11th Cross Street has seen several revisions over the years. The earliest recorded value was Rs 827 per sq.ft in 2003, which increased to Rs 1,000 per sq.ft in 2007, marking a 21% rise. By 2012, the value increased significantly to Rs 4,000 per sq.ft, reflecting a 300% increase from the previous revision. However, this value dropped to Rs 2,680 per sq.ft in 2017, which was a decline of 33%.

From 2017 to the current 2024 revision, the guideline value has risen sharply to Rs 4,400 per sq.ft, representing a 64% increase. Overall, from 2003 to 2024, the guideline value has increased by 432%. The register does not have figures for the years 2023 and 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing New Colony 11th Cross Street's 2024 figure above that median.

• New Colony 10th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 12th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 13th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 14th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 15th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 16th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 11th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total 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, 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 or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Colony 11th Cross Street?

The Sub Registrar Office that covers New Colony 11th Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Zaminpallavaram. 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 compared against the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the state receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Colony 11th Cross Street?

The current guideline value of New Colony 11th Cross Street is Rs 4,400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 827 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

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

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.

Which Sub Registrar Office handles registrations for New Colony 11th Cross Street?

The Pallavaram Sub Registrar Office handles registrations for New Colony 11th Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for New Colony 11th Cross Street?

New Colony 11th Cross Street is classified as Commercial Class I Type - III.