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Guideline Value

Corporate

Guideline Value for New India Colony 3rd Cross Street

₹2200/sq.ft.

The guideline value for New India Colony 3rd 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 3rd Cross Street

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New India Colony 3rd Cross Street guideline value

The current guideline value of New India Colony 3rd 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 3rd Cross Street has changed

In the 2023 revision, the guideline value was Rs 2,000 per sq.ft. This represented a change of +10% to the current figure of Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for New India Colony 3rd Cross Street are from 2023 and 2024, showing a clear increase in the guideline value from Rs 2,000 to Rs 2,200 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 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, making the 2024 figure for New India Colony 3rd Cross Street below the median.

Stamp duty and registration fee for property in New India Colony 3rd 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 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 calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New India Colony 3rd Cross Street?

The Sub Registrar Office that covers New India Colony 3rd 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 critical factor during the registration of property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered and is used for calculating stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the local market conditions, thus helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of New India Colony 3rd Cross Street?

The current guideline value of New India Colony 3rd 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 3rd Cross Street was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for New India Colony 3rd Cross Street?

The land classification for New India Colony 3rd Cross Street is Residential Class II Type - I. This classification is important for determining the usage of the land and applicable regulations.

Where can I find the registration office for New India Colony 3rd Cross Street?

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

How is stamp duty calculated for properties in New India Colony 3rd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.