Guideline Value for New Colony 11th Street

New Colony 11th Street guideline value

The current guideline value of New Colony 11th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

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

The guideline value for New Colony 11th Street has seen several revisions over the years. In 2002, the value was Rs 352 per sq.ft, which increased to Rs 402 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, an increase of 124%. Following this, the value jumped to Rs 3,500 per sq.ft in 2012, reflecting a substantial 289% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1008%. There are no figures available for the years not specifically mentioned in the register for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry 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 the same as the guideline value for New Colony 11th Street.

• New Colony 10th 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 11th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the 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 to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Colony 11th Street?

The Sub Registrar Office that covers New Colony 11th 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is documented correctly and legally. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during registration.

When a property is sold, the guideline value is often used to determine the minimum price at which the property can be registered. This helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duties and registration fees.

Frequently asked questions

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

The current guideline value of New Colony 11th 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 significantly from Rs 352 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1008% over the years.

What are the stamp duty and registration fees for properties in New Colony 11th Street?

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 office handles the registration for New Colony 11th Street?

The Alandur Sub Registrar Office handles the registration for New Colony 11th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

The land classification for New Colony 11th Street is Residential Class I Type - III, indicating its suitability for residential development.