Guideline Value for New Colony 9th Cross Street

New Colony 9th Cross Street guideline value

The current guideline value of New Colony 9th Cross Street is Rs 4,400 per sq.ft. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - III.

How the guideline value of New Colony 9th Cross Street has changed

The guideline value for New Colony 9th Cross Street has undergone several revisions over the years. In 2003, the guideline value was Rs 827 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. This was followed by a significant rise to Rs 4,000 per sq.ft in 2012, but it then decreased to Rs 2,680 per sq.ft in 2017. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,400 per sq.ft. The changes between revisions include an increase of 21% from 2003 to 2007, a rise of 300% from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a further increase of 10% from 2023 to 2024.

It is important to note that the register has no figure for the year 2002 for this street.

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, with a median value of Rs 3,300 per sq.ft. The guideline value of New Colony 9th Cross Street is above this median.

• New Colony 8th Cross Street: Rs 4,400 per sq.ft (2024)
• New Colony 8th Cross St Extn: Rs 3,850 per sq.ft (2024)
• New Colony G.S.T.Road (Part): Rs 8,800 per sq.ft (2024)
• New Colony 7th Main Road 1 To 4 Streets: Rs 4,400 per sq.ft (2024)
• New Colony 7th Main Road: Rs 4,400 per sq.ft (2024)
• New Colony 7th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony 9th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value is 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, bringing the total cost for these fees to Rs 3,96,000. 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 9th Cross Street?

The Sub Registrar Office that covers New Colony 9th 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 an essential factor when registering property in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, thereby aiding in the collection of appropriate taxes. It is crucial for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of New Colony 9th Cross Street?

The current guideline value of New Colony 9th 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 significantly from Rs 827 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with various increases and one decrease noted in the revisions.

What is the land classification of New Colony 9th Cross Street?

New Colony 9th Cross Street is classified as Commercial Class I Type - III, indicating its commercial usage potential.

Where can I find the Sub Registrar Office for New Colony 9th Cross Street?

The Sub Registrar Office for New Colony 9th Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in New Colony 9th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.