Guideline Value

Corporate

Guideline Value for New Colony 1st Street

₹1700/sq.ft.

The guideline value for New Colony 1st Street in Kottivakkam village (Adayar SRO, Chennai zone) is Rs 1700 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 13% change. The land classification is Residential Class V Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kottivakkam

Village

Adayar

SRO

Residential Class V Type - III
History
Period Guideline Value
From 1-7-2024 ₹1700 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹457 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

51, Kamaraj Avenue,second Street, Adyar, Chennai-20
044-24415011
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Colony 1st Street

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New Colony 1st Street guideline value

The current guideline value of New Colony 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class V Type - III.

How the guideline value of New Colony 1st Street has changed

The guideline value for New Colony 1st Street has seen several revisions over the years. In 2003, the value was Rs 457 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. By 2012, the value rose to Rs 1,500 per sq.ft, but then decreased to Rs 1,005 per sq.ft in 2017. The value further increased to Rs 1,500 per sq.ft in 2023 and is currently set at Rs 1,700 per sq.ft from the 2024 revision.

Between the revisions, the most notable changes include a 119% increase from 2003 to 2007, a 50% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 13% increase from 2023 to 2024. The register has no figure for this street in 2002.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. New Colony 1st Street's 2024 figure is below this median.

Stamp duty and registration fee for property in New Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 1st Street?

The Sub Registrar Office covering New Colony 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Colony 1st Street?

The current guideline value of New Colony 1st Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 457 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, with various fluctuations in between, including a peak of Rs 1,500 per sq.ft in 2012 and a drop to Rs 1,005 per sq.ft in 2017.

What is the land classification of New Colony 1st Street?

New Colony 1st Street is classified as Residential Class V Type - III, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for New Colony 1st Street?

The Adayar Sub Registrar Office covers New Colony 1st Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.