Guideline Value for New Colony 4th Cross Street

New Colony 4th Cross Street guideline value

The current guideline value of New Colony 4th 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, and it falls under the Mixed Type - I land classification.

How the guideline value of New Colony 4th Cross Street has changed

The guideline value for New Colony 4th Cross Street has undergone several revisions over the years. The earliest available figure is from 2003, where the value was Rs 827 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a growth of 21%. The value then saw a significant rise to Rs 3,500 per sq.ft in 2012, which was an increase of 250%. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value increased again to Rs 3,750 per sq.ft in 2023, a rise of 60%, and currently stands at Rs 3,850 per sq.ft as of the 2024 revision, which is a 3% increase.

The register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 366%.

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 value for these streets is Rs 3,300 per sq.ft, placing New Colony 4th Cross Street's 2024 figure above that median.

• New Colony 3rd Main Road: Rs 4,400 per sq.ft (2024)
• New Colony 4th Main Road: Rs 3,850 per sq.ft (2024)
• New Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 5th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• New Colony 5th Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 4th 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 cost for these fees Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Colony 4th Cross Street?

The Sub Registrar Office that covers New Colony 4th 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 more information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. The fees are determined based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, buyers must be aware of the guideline value as it impacts the overall cost of the transaction. It is advisable to check the latest guideline values to understand the financial implications before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of New Colony 4th Cross Street?

The current guideline value of New Colony 4th 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 median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, with New Colony 4th Cross Street's 2024 figure being above this median.

What are the stamp duty and registration fees for a property in New Colony 4th Cross Street?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for New Colony 4th Cross Street?

The Pallavaram Sub Registrar Office handles registrations for New Colony 4th Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.