Guideline Value for New Colony 9th Street

New Colony 9th Street guideline value

The current guideline value of New Colony 9th 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 9th Street has changed

The guideline value for New Colony 9th 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 saw a significant rise to Rs 900 per sq.ft in 2007, which was an increase of +171%. In 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a substantial increase of +289% from the previous revision. However, this figure dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of -33%. The guideline value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, which is an increase of +11%.

It is important to note that there are no recorded figures for revisions in years not listed above for this street. 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 that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for New Colony 9th Street is equal to this median.

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

Stamp duty and registration fee for property in New Colony 9th 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, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Colony 9th Street?

The Sub Registrar Office that covers New Colony 9th 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 for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with the law.

Frequently asked questions

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

The current guideline value of New Colony 9th 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 seen significant changes, increasing from Rs 291 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of +1240%.

What is the land classification for New Colony 9th Street?

New Colony 9th Street is classified as Residential Class I Type - III, which indicates its designation for residential use.

What are the stamp duty and registration fees for a property in New Colony 9th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, with stamp duty at Rs 2,73,000 and registration fees at Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for New Colony 9th Street located?

The Sub Registrar Office for New Colony 9th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.