Guideline Value for New Colony 13th Cross Street

New Colony 13th Cross Street guideline value

The current guideline value of New Colony 13th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - III.

How the guideline value of New Colony 13th Cross Street has changed

The guideline value for New Colony 13th Cross Street has seen several revisions over the years. The earliest recorded value is Rs 827 per sq.ft from the 2003 revision, which increased to Rs 1,466 per sq.ft in 2007. This was followed by a significant rise to Rs 4,000 per sq.ft in 2012, but then it decreased to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023, and it currently stands at Rs 4,400 per sq.ft as of the 2024 revision.

In terms of percentage changes, from 2003 to 2007, the value increased by 77%. From 2007 to 2012, there was a remarkable increase of 173%. However, from 2012 to 2017, the value decreased by 33%. The value then rose by 49% from 2017 to 2023, and has seen a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 432%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO that carry a 2024 guideline value, 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 13th Cross Street's 2024 figure above this median.

• New Colony 12th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 14th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 11th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 15th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 10th 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 13th 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 would be 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 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 details.

Which Sub Registrar Office covers New Colony 13th Cross Street?

The Sub Registrar Office that covers New Colony 13th 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 crucial 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 a property is bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is registered at a fair value, which is beneficial for both parties involved. This value is updated periodically to reflect changes in the market and local conditions.

Frequently asked questions

What is the current guideline value of New Colony 13th Cross Street?

The current guideline value of New Colony 13th Cross 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 significantly, 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 is the land classification for New Colony 13th Cross Street?

The land classification for New Colony 13th Cross Street is Commercial Class I Type - III.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 3,96,000 in fees based on the current guideline value.

Which office handles registrations for New Colony 13th Cross Street?

The Pallavaram Sub Registrar Office handles registrations for New Colony 13th Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.