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Guideline Value

Corporate

Guideline Value for New Hindu Colony 1st Street

₹2200/sq.ft.

The guideline value for New Hindu Colony 1st Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Hindu Colony 1st Street

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New Hindu Colony 1st Street guideline value

The current guideline value of New Hindu Colony 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Hindu Colony 1st Street has changed

The guideline value for New Hindu Colony 1st Street has seen several changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, indicating that the value for New Hindu Colony 1st Street is below this median.

Stamp duty and registration fee for property in New Hindu Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that 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 Hindu Colony 1st Street?

The Sub Registrar Office that covers New Hindu Colony 1st 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 Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal purposes.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of New Hindu Colony 1st Street?

The current guideline value of New Hindu Colony 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over these years.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is above the current value of New Hindu Colony 1st Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for New Hindu Colony 1st Street located?

The Sub Registrar Office for New Hindu Colony 1st Street is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.