Guideline Value for New Colony 14th Cross Street

New Colony 14th Cross Street guideline value

The current guideline value of New Colony 14th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village and falls under the Pallavaram SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of New Colony 14th Cross Street has changed

The guideline value for New Colony 14th Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2003, where the value was Rs 827 per sq.ft. This increased to Rs 1,200 per sq.ft in 2007, marking a significant rise of 45%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a growth of 233%. However, in 2017, it decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,400 per sq.ft in 2024, indicating a 10% increase from the previous year. The register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 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 value is Rs 3,300 per sq.ft, making the current guideline value of New Colony 14th Cross Street above that median.

• New Colony 13th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 15th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 12th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 16th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 11th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 17th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 14th 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 amount to 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 14th Cross Street?

The Sub Registrar Office that covers New Colony 14th 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 an important factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions, thereby facilitating transparency in property dealings.

Frequently asked questions

What is the current guideline value of New Colony 14th Cross Street?

The current guideline value of New Colony 14th 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 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 14th Cross Street?

The land classification for New Colony 14th Cross Street is Commercial Class I Type - III, indicating its commercial usage.

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, on a 1,000 sq.ft plot, the total costs can amount to Rs 3,96,000.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering New Colony 14th Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.