Guideline Value for New Colony 20th Cross Street

New Colony 20th Cross Street guideline value

The current guideline value of New Colony 20th 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 20th Cross Street has changed

The guideline value for New Colony 20th Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2003, with a guideline value of Rs 827 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 21%. The value then saw a dramatic increase to Rs 4,000 per sq.ft in 2012, reflecting a 300% jump from the previous revision. However, there are no figures available for the years 2002, 2017, and 2023 for this street.

As of the 2024 revision, the guideline value stands at Rs 4,400 per sq.ft, which is a 10% increase from the 2012 figure. Overall, from the 2003 revision to the current 2024 value, there has been a substantial increase of 432% in the guideline value for New Colony 20th Cross Street.

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 guideline value for these streets is Rs 3,300 per sq.ft, placing New Colony 20th Cross Street above this median with its current value of Rs 4,400 per sq.ft.

• New Colony 1st Main Road: Rs 4,400 per sq.ft (2024)
• New Colony 21st Cross Street: Rs 3,850 per sq.ft (2024)
• New Colony 1st Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 19th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 20th 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 amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers New Colony 20th Cross Street?

The Sub Registrar Office that covers New Colony 20th Cross Street is located at Pallavaram Sub Registrar Office, 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties. It is essential to understand that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher, ensuring compliance with the legal requirements of property transactions.

Frequently asked questions

What is the current guideline value of New Colony 20th Cross Street?

The current guideline value of New Colony 20th 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 increased 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 20th Cross Street?

New Colony 20th Cross Street is classified as Commercial Class I Type - III.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 3,08,000 and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for New Colony 20th Cross Street located?

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