Guideline Value for NEW CHENNAI CITY PHASE -1

New Chennai City Phase -1 guideline value

The current guideline value for New Chennai City Phase -1 is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Nelllikuppam village under the Thiruporur SRO, and the land classification is Residential Special Type - II.

How the guideline value of New Chennai City Phase -1 has changed

The guideline value for New Chennai City Phase -1 has seen several revisions over the years. The 2017 revision set the value at Rs 335 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 500 per sq.ft, marking a 49% increase from 2017 to 2024.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 500 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nelllikuppam

Nelllikuppam has a total of 45 streets under the Thiruporur SRO, with guideline values ranging from Rs 400 to Rs 1,600 per sq.ft for the 2024 revision. The median value for these streets is Rs 1,000 per sq.ft, placing New Chennai City Phase -1's 2024 figure below that median.

• New Chennai City Annex I: Rs 500 per sq.ft (2024)
• New Chennai City Annex: Rs 500 per sq.ft (2024)
• New Chennai City Phase II: Rs 500 per sq.ft (2024)
• New Chennai City: Rs 500 per sq.ft (2024)
• New Chennai City Phase III: Rs 500 per sq.ft (2024)
• New Chennai City Phase IV: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in New Chennai City Phase -1

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that 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 details on fees.

Which Sub Registrar Office covers New Chennai City Phase -1?

The Sub Registrar Office that covers New Chennai City Phase -1 is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Nelllikuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value for New Chennai City Phase -1?

The current guideline value for New Chennai City Phase -1 is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for New Chennai City Phase -1 was Rs 335 per sq.ft in 2017, which increased to Rs 500 per sq.ft in both the 2023 and 2024 revisions, showing a 49% increase overall from 2017 to 2024.

What are the guideline values for other streets in Nelllikuppam?

The guideline values for other streets in Nelllikuppam range from Rs 400 to Rs 1,600 per sq.ft, with the median value being Rs 1,000 per sq.ft. New Chennai City Phase -1's guideline value is below this median.

What fees are associated with property registration in New Chennai City Phase -1?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,00,000. The stamp duty at 7% is Rs 35,000, and the registration fee at 2% is Rs 10,000, totaling Rs 45,000 in fees.

Where can I find the Sub Registrar Office for New Chennai City Phase -1?

The Thiruporur Sub Registrar Office covers New Chennai City Phase -1 and is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.