Guideline Value for New Colony 2nd Main Road

New Colony 2nd Main Road guideline value

The current guideline value of New Colony 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, and it is classified as Commercial Class I Type - III.

How the guideline value of New Colony 2nd Main Road has changed

The guideline value for New Colony 2nd Main Road has seen several revisions over the years. The earliest recorded value was Rs 827 per sq.ft in 2003, which increased to Rs 1,000 per sq.ft in 2007, marking a change of +21%. By 2012, the value surged to Rs 4,000 per sq.ft, reflecting a significant increase of +300% from the previous revision. The register has no figure for this street for the years 2002, 2017, and 2023.

In the most recent revision, the guideline value rose to Rs 4,400 per sq.ft in 2024, representing a +10% increase from the 2012 figure. 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 with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making the guideline value for New Colony 2nd Main Road above this median.

• New Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 21st Cross Street: Rs 3,850 per sq.ft (2024)
• New Colony 3rd Main Road: Rs 4,400 per sq.ft (2024)
• New Colony 20th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 4th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 2nd Main Road

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. 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 2nd Main Road?

The Sub Registrar Office that covers New Colony 2nd Main Road 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 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 government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction value. If the sale price is higher than the guideline value, the stamp duty will be calculated on the sale price instead.

Frequently asked questions

What is the current guideline value of New Colony 2nd Main Road?

The current guideline value of New Colony 2nd Main Road 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 a total increase of +432% over this period.

What is the registration fee for property in New Colony 2nd Main Road?

The registration fee is 2% of the guideline value. For a property valued at Rs 44,00,000, the registration fee would be Rs 88,000.

Where is the Sub Registrar Office for New Colony 2nd Main Road located?

The Sub Registrar Office for New Colony 2nd Main Road is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value for streets in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, and New Colony 2nd Main Road's guideline value is above this median at Rs 4,400 per sq.ft.