Guideline Value for New Colony I to V Street /Lane

New Colony I to V Street /Lane guideline value

The current guideline value of New Colony I to V Street /Lane in Thirunageswaram village, under the Kunrathur SRO, is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of New Colony I to V Street /Lane has changed

The guideline value for New Colony I to V Street /Lane has seen several revisions over the years. In 2012, the guideline value was Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and then to Rs 1,550 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,550 per sq.ft, which is equal to the current guideline value for New Colony I to V Street /Lane.

• Navidhar Street: Rs 1,550 per sq.ft (2024)
• Palla Street: Rs 1,550 per sq.ft (2024)
• Panchayat Colony I & II Street: Rs 1,200 per sq.ft (2024)
• Muthukumaran Street: Rs 1,550 per sq.ft (2024)
• Periyar Nagar 1st Street: Rs 1,550 per sq.ft (2024)
• Periyar Nagar 2nd Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony I to V Street /Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total fees together to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Colony I to V Street /Lane?

The Sub Registrar Office that covers New Colony I to V Street /Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirunageswaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a value that reflects the current market conditions, aiding in the assessment of taxes and fees associated with the sale.

Frequently asked questions

What is the current guideline value of New Colony I to V Street /Lane?

The current guideline value of New Colony I to V Street /Lane is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then increased to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

What is the classification of land in New Colony I to V Street /Lane?

The land classification for New Colony I to V Street /Lane is Residential Special Type - II.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in New Colony I to V Street /Lane is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can visit their office for registration-related queries.