Guideline Value

Corporate

Guideline Value for New Colony 4th Street

₹4400/sq.ft.

The guideline value for New Colony 4th Street in Velachery village (Velacheri 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 Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
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 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹346 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹308 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[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 4th Street

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New Colony 4th Street guideline value

The current guideline value of New Colony 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

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. In 2002, the value was Rs 308 per sq.ft, which increased to Rs 346 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,500 per sq.ft in 2007, marking an increase of 334%. In 2012, the value was Rs 4,000 per sq.ft, but it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1329%. Notably, there are no figures available for the revisions of the years not listed for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with the median being Rs 4,400 per sq.ft. The guideline value for New Colony 4th Street aligns with this median.

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 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, and the registration fee at 2% would be Rs 88,000, totaling 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Colony 4th Street?

The Sub Registrar Office covering New Colony 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate tax revenue.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

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 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 308 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1329% over this period.

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

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

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

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty at 7% is Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for New Colony 4th Street?

The Velacheri Sub Registrar Office handles registrations for New Colony 4th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.