Guideline Value for New Colony 18th Cross Street

New Colony 18th Cross Street guideline value

The current guideline value of New Colony 18th Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Mixed Type - I land.

How the guideline value of New Colony 18th Cross Street has changed

The guideline value for New Colony 18th Cross Street has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 827 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a significant change of +21%. The value then rose dramatically to Rs 3,500 per sq.ft in 2012, reflecting a substantial increase of +250%.

In the subsequent revisions, the value was Rs 3,750 per sq.ft in 2023, which saw a +7% increase from the previous figure. The current guideline value is Rs 3,850 per sq.ft as of the 2024 revision, representing a +3% change from 2023. The register does not have figures for the years 2002 and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing New Colony 18th Cross Street above that median.

• New Colony 17th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 19th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 16th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 1st Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 15th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 1st Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 18th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total Rs 3,46,500. It is important to note that the 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 18th Cross Street?

The Sub Registrar Office covering New Colony 18th 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 additional 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 is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the established values set by the Registration Department.

When buying or selling property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of New Colony 18th Cross Street?

The current guideline value of New Colony 18th Cross Street is Rs 3,850 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 3,850 per sq.ft in 2024, reflecting an overall increase of +366% over the years.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for New Colony 18th Cross Street?

The Sub Registrar Office for New Colony 18th Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, and New Colony 18th Cross Street's value is above this median.