Guideline Value

Corporate

Guideline Value for New Colony 3rd Cross Street

₹4400/sq.ft.

The guideline value for New Colony 3rd Cross Street in Virugambakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Virugambakkam

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[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 3rd Cross Street

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New Colony 3rd Cross Street guideline value

The current guideline value of New Colony 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of New Colony 3rd Cross Street has changed

The guideline value for New Colony 3rd Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 264% increase. However, it then decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft, with the median value being Rs 4,400 per sq.ft. New Colony 3rd Cross Street's 2024 guideline value is equal to this median.

Stamp duty and registration fee for property in New Colony 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making a total of 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 3rd Cross Street?

The Sub Registrar Office that covers New Colony 3rd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

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

Frequently asked questions

What is the current guideline value for New Colony 3rd Cross Street?

The current guideline value for New Colony 3rd 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 from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300% from 2007 to 2024.

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

For a 1,000 sq.ft plot at the guideline value of Rs 4,400 per sq.ft, the total stamp duty and registration fees would amount to Rs 3,96,000.

Which Sub Registrar Office handles registrations for New Colony 3rd Cross Street?

The Virugambakkam Sub Registrar Office handles registrations for New Colony 3rd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration, ensuring that the appropriate stamp duty and registration fees are collected based on either the guideline value or the sale price, whichever is higher.