Guideline Value for NEW METRO CITY

New Metro City guideline value

The current guideline value of New Metro City, located in Nemam_B village under the Avadi Sub Registrar Office (SRO), is Rs 330 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - III land classification.

How the guideline value of New Metro City has changed

In the revisions of the guideline value for New Metro City, the register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 300 per sq.ft, which was then increased by 10% to Rs 330 per sq.ft in the 2024 revision.

From 2023 to 2024, the guideline value increased from Rs 300 to Rs 330 per sq.ft. This change reflects a 10% rise in the guideline value for this street.

Guideline values in Nemam_B

In Nemam_B, there are 24 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 935 per sq.ft, positioning New Metro City below this median.

• New Metro City Annex - S.No.755/2: Rs 440 per sq.ft (2024)
• Ms Smart City: Rs 770 per sq.ft (2024)
• Radha Nagar: Rs 710 per sq.ft (2024)
• Rajalakshmi Enclave Phase I: Rs 550 per sq.ft (2024)
• Rajalakshmi Enclave Phase - II: Rs 550 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in New Metro City

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total charges to Rs 29,700. It is important to note that 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 Metro City?

The New Metro City area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nemam_B. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the charges, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value for New Metro City?

The current guideline value for New Metro City is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for New Metro City was Rs 300 per sq.ft in 2023 and increased by 10% to Rs 330 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Nemam_B?

The median guideline value in Nemam_B is Rs 935 per sq.ft, with New Metro City being below this median at Rs 330 per sq.ft.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700. These fees are calculated based on the guideline value or the sale price, whichever is higher.

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

The Avadi Sub Registrar Office covers New Metro City, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.