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Guideline Value

Corporate

Guideline Value for New India Colony 2nd Cross Street

₹2200/sq.ft.

The guideline value for New India Colony 2nd Cross 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 N/A
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 India Colony 2nd Cross Street

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New India Colony 2nd Cross Street guideline value

The current guideline value for New India Colony 2nd Cross 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of New India Colony 2nd Cross Street has changed

The guideline value for New India Colony 2nd Cross Street has seen several revisions over the years. However, the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. The most recent revisions show that the guideline value was Rs 2,000 per sq.ft in 2023, which increased by 10% to Rs 2,200 per sq.ft in 2024.

This increase reflects a change in the guideline value from the previous year, indicating a rise in the valuation of properties within this locality. The 2024 figure is below the median guideline value for Madipakkam-1, which is Rs 2,750 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, positioning New India Colony 2nd Cross Street below this median.

Stamp duty and registration fee for property in New India Colony 2nd Cross 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, making the total cost for these fees Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers New India Colony 2nd Cross Street?

The Sub Registrar Office that covers New India Colony 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for New India Colony 2nd Cross Street?

The current guideline value for New India Colony 2nd Cross 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 for New India Colony 2nd Cross Street was Rs 2,000 per sq.ft in 2023 and increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madipakkam-1?

The guideline values for other streets in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. New India Colony 2nd Cross Street's value is below this median.

What fees are associated with property transactions in New India Colony 2nd Cross Street?

For a property transaction, buyers need to consider stamp duty at 7% and a registration fee at 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate incurs total fees of Rs 1,98,000.

Where is the Sub Registrar Office for New India Colony 2nd Cross Street located?

The Velacheri Sub Registrar Office, which covers New India Colony 2nd Cross Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.