Guideline Value for New Telephone Colony

New Telephone Colony guideline value

The current guideline value of New Telephone Colony is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Telephone Colony has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. The register has no figures for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The consistent value of Rs 1,500 per sq.ft from 2012 to 2023 indicates stability before the recent increase in 2024.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which aligns with the guideline value of New Telephone Colony.

• Nithya Garden Extension: Rs 2,200 per sq.ft (2024)
• New Sasthri Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• New Sasthri Nagar: Rs 1,300 per sq.ft (2024)
• North Telephone Colony: Rs 1,600 per sq.ft (2024)
• NSC BOSE Nagar: Rs 1,300 per sq.ft (2024)
• NSC Boss Road (Ward-8): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Telephone Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, resulting in a total of Rs 1,44,000. 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 Telephone Colony?

The New Telephone Colony is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of New Telephone Colony?

The current guideline value of New Telephone Colony is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, before increasing to Rs 1,600 per sq.ft in 2024. This represents a 7% increase from the previous year.

What is the land classification of New Telephone Colony?

New Telephone Colony is classified as Residential Class II Type - I. This classification is important for understanding the type of development allowed in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations in the area.

How is stamp duty calculated in New Telephone Colony?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,12,000.