Guideline Value for New Colony 17th Cross Street

New Colony 17th Cross Street guideline value

The current guideline value of New Colony 17th 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 17th Cross Street has changed

The guideline value for New Colony 17th Cross Street has seen significant changes over the years. In 2003, the value was Rs 827 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a change of +21%. By 2012, the value rose dramatically to Rs 4,000 per sq.ft, reflecting a substantial increase of +300% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a +10% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2023, 2017, and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +432%.

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, with a median value of Rs 3,300 per sq.ft. The guideline value of New Colony 17th Cross Street is above this median.

• New Colony 16th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 18th Cross Street: Rs 3,850 per sq.ft (2024)
• New Colony 15th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 19th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 14th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 1st Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 17th 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Colony 17th Cross Street?

The Sub Registrar Office that covers New Colony 17th 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 plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the buyer will need to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of New Colony 17th Cross Street?

The current guideline value of New Colony 17th 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 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 office handles property registrations for New Colony 17th Cross Street?

The Pallavaram Sub Registrar Office handles property registrations for New Colony 17th Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

Are there other streets with similar guideline values in Zaminpallavaram?

Yes, other streets in Zaminpallavaram also have guideline values around Rs 4,400 per sq.ft, including New Colony 16th Cross Street, New Colony 15th Cross Street, New Colony 19th Cross Street, New Colony 14th Cross Street, and New Colony 1st Cross Street.