Guideline Value for New Colony

New Colony guideline value

The current guideline value of New Colony, Koyakbedu village, under the AnnaNagar SRO is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

How the guideline value of New Colony has changed

The guideline value for New Colony has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2007 to the current 2024 figure, the guideline value has increased by 230%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for New Colony is below this median.

• New Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 7,700 per sq.ft (2024)
• North Mada Street (Kurungaleeswarar Koil): Rs 3,800 per sq.ft (2024)
• Palani Andavar Colony: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony Ist Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost together Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers New Colony?

The Sub Registrar Office covering New Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Koyakbedu. It serves as a reference point for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of New Colony?

The current guideline value of New Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an overall increase of 230% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers New Colony?

The AnnaNagar Sub Registrar Office covers New Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Where can I find more information about guideline values in Koyakbedu?

More information about guideline values in Koyakbedu can be found in the registration department's guideline value register, which provides detailed figures for various streets in the area.