Guideline Value for NEW CLEVER CITY

New Clever City guideline value

The current guideline value for New Clever City, located in Kodipallam village under the Thiruvottiyur SRO, is Rs 248 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of New Clever City has changed

The guideline value for New Clever City has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 248 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 226 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 151 per sq.ft, marking a significant 50% increase from the 2017 figure to the 2023 figure. The 2012 revision had a guideline value of Rs 225 per sq.ft, which was a decrease of 33% from the 2017 revision.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodipallam

In Kodipallam, there are 11 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, all set at Rs 248 per sq.ft, with the median also being Rs 248 per sq.ft. The guideline value for New Clever City is equal to this median.

• New Star City Gold: Rs 248 per sq.ft (2024)
• Karthik Nagar: Rs 248 per sq.ft (2024)
• S.K.M. Garden: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Garden: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Nagar: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Nagar Ext: Rs 248 per sq.ft (2024)

Stamp duty and registration fee for property in New Clever City

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value amounts to Rs 2,48,000. The stamp duty, charged at 7%, would be Rs 17,360, and the registration fee at 2% would be Rs 4,960. Therefore, the total cost for stamp duty and registration fees would be Rs 22,320. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Clever City?

The Sub Registrar Office that covers New Clever City is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kodipallam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for New Clever City?

The current guideline value for New Clever City is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 248 per sq.ft in 2024, reflecting an overall increase of 10% over this period.

What is the stamp duty rate for properties in New Clever City?

The stamp duty rate for properties in New Clever City is 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the other streets in Kodipallam with the same guideline value?

Other streets in Kodipallam that have the same guideline value of Rs 248 per sq.ft include New Star City Gold, Karthik Nagar, S.K.M. Garden, Sri Bhavani Amman Garden, Sri Bhavani Amman Nagar, and Sri Bhavani Amman Nagar Ext.