Guideline Value for New Colony 4th Street

New Colony 4th Street guideline value

The current guideline value of New Colony 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

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

The guideline value for New Colony 4th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 291 per sq.ft. This increased to Rs 332 per sq.ft in 2003, marking a change of +14%. The value continued to rise significantly, reaching Rs 900 per sq.ft in 2007, which was an increase of +171%. Following this, in 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a substantial rise of +289%. However, the value dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of -33%.

In the subsequent revisions, the guideline value increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, representing an increase of +11%. Overall, from 2002 to 2024, the guideline value has increased by +1240%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the current value of New Colony 4th Street.

• New Colony 5th Street: Rs 3,900 per sq.ft (2024)
• New Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• New Colony 6th Street: Rs 3,900 per sq.ft (2024)
• New Colony 7th Street: Rs 3,900 per sq.ft (2024)
• New Colony 8th Street: Rs 3,900 per sq.ft (2024)
• New Colony 8th Street Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. Please note that 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 further calculations.

Which Sub Registrar Office covers New Colony 4th Street?

The Sub Registrar Office that covers New Colony 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO online for more information.

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

The guideline value plays a crucial role during property registration in Adambakkam. It is the minimum value set by the government for property transactions, ensuring that properties are registered at a value that reflects the market conditions. When buying or selling property, this value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of New Colony 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 291 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of +1240%.

What is the land classification for New Colony 4th Street?

New Colony 4th Street is classified as Residential Class I Type - III.

Where can I find the registration office for New Colony 4th Street?

The registration office for New Colony 4th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in New Colony 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be calculated on Rs 39,00,000.