Guideline Value for NEW DIAMOND CITY

New Diamond City guideline value

The current guideline value of New Diamond City is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Periyapalayam village under the Arani_Tiruvallur SRO and is classified as Commercial Class I Type - II.

How the guideline value of New Diamond City has changed

The guideline value for New Diamond City has undergone several revisions. The earliest recorded revision in 2017 set the value at Rs 402 per sq.ft. This figure increased to Rs 600 per sq.ft in the 2023 revision, marking a 49% rise. The 2024 revision also maintains this value at Rs 600 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Periyapalayam

In Periyapalayam, there are 31 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 160 to Rs 600 per sq.ft, with a median value of Rs 200 per sq.ft. New Diamond City's guideline value is above this median.

• Nethaji Nagar: Rs 200 per sq.ft (2024)
• Palaiakkara Street: Rs 600 per sq.ft (2024)
• Panayancheri nagar: Rs 160 per sq.ft (2024)
• Periyapalayam - Chennai Road: Rs 400 per sq.ft (2024)
• Periyapalayam Shri Bhavani Amman Nagar: Rs 160 per sq.ft (2024)
• M.G.R.Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in New Diamond City

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers New Diamond City?

The Sub Registrar Office that covers New Diamond City is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Periyapalayam. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller adhere to the legal requirements set forth by the Registration Department.

When a property is sold, the guideline value helps to establish a baseline for the transaction. This ensures that the property is registered at an appropriate value, which is essential for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of New Diamond City?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in both 2023 and 2024, reflecting a 49% increase overall from 2017 to 2024.

What is the land classification for New Diamond City?

New Diamond City is classified as Commercial Class I Type - II under the Arani_Tiruvallur SRO.

What are the stamp duty and registration fees for property in New Diamond City?

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Where is the Sub Registrar Office for New Diamond City located?

The Sub Registrar Office for New Diamond City is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.