Guideline Value for New Street 4th Lane

New Street 4th Lane guideline value

The current guideline value of New Street 4th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of New Street 4th Lane has changed

The guideline value for New Street 4th Lane has seen significant changes over the years. In the 2003 revision, the value was Rs 566 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. This was a notable rise of 77%. The value then surged dramatically to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, it decreased to Rs 2,680 per sq.ft in the 2017 revision, reflecting a decline of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and finally, it increased to Rs 4,400 per sq.ft in the 2024 revision, a 10% rise.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 677%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this village is Rs 4,900 per sq.ft, placing New Street 4th Lane's 2024 figure below that median.

• New Street 3rd Lane: Rs 4,400 per sq.ft (2024)
• New Street Ist Lane: Rs 4,400 per sq.ft (2024)
• New Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• New Street: Rs 4,400 per sq.ft (2024)
• New Mandapam Road: Rs 4,400 per sq.ft (2024)
• New Colony (V.O.C.)Ist Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Street 4th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Street 4th Lane?

The Sub Registrar Office that covers New Street 4th Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the property registration process in Ayanavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is documented at a value that reflects the current market conditions as assessed by the registration department.

Frequently asked questions

What is the current guideline value of New Street 4th Lane?

The current guideline value of New Street 4th Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 566 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 677% over this period.

What are the stamp duty and registration fees for property in New Street 4th Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000. The stamp duty at 7% amounts to Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers New Street 4th Lane?

The AnnaNagar Sub Registrar Office covers New Street 4th Lane, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for New Street 4th Lane?

The land classification for New Street 4th Lane is Residential Class II Type - I.