Guideline Value for NEW CHENNAI CITY

New Chennai City guideline value

The current guideline value of New Chennai City in Nelllikuppam village is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Thiruporur SRO and is classified as Residential Special Type - II.

How the guideline value of New Chennai City has changed

In the 2023 revision, the guideline value for New Chennai City was also set at Rs 500 per sq.ft, indicating no change from the previous year. The register has no figure for this street in the revisions from 2002, 2003, 2007, 2012, and 2017.

From 2023 to 2024, the guideline value remained unchanged at Rs 500 per sq.ft, reflecting a 0% increase. This consistency suggests stability in the guideline value for this area over the past two years.

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. The median guideline value for these streets is Rs 1,000 per sq.ft, placing New Chennai City's 2024 figure below that median.

• New Chennai City Annex: Rs 500 per sq.ft (2024)
• New Chennai City Phase IV Annex: Rs 500 per sq.ft (2024)
• New Chennai City Annex I: Rs 500 per sq.ft (2024)
• New Chennai City Phase -1: Rs 500 per sq.ft (2024)
• New Chennai City Phase II: Rs 500 per sq.ft (2024)
• New Chennai City Phase III: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in New Chennai City

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Chennai City?

The Sub Registrar Office that covers New Chennai City 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 critical factor in determining the stamp duty and registration fees when buying or selling property in Nelllikuppam. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the transaction is taxed fairly based on the property's value as recognized by the government.

Frequently asked questions

What is the current guideline value of New Chennai City?

The current guideline value of New Chennai City in Nelllikuppam village is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 500 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the revisions from 2002, 2003, 2007, 2012, and 2017 for this street.

What are the guideline values for other streets in Nelllikuppam?

Other streets in Nelllikuppam also have a guideline value of Rs 500 per sq.ft for the year 2024. This includes several streets such as New Chennai City Annex, New Chennai City Phase IV Annex, and others.

How is stamp duty calculated in New Chennai City?

Stamp duty in New Chennai City is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.

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

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