Guideline Value for NEW METRO NAGAR

New Metro Nagar guideline value

The current guideline value of New Metro Nagar, located in Vellavedu village under the Poonamallee SRO, is Rs 1,660 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of New Metro Nagar has changed

According to the guideline value register, there are no figures available for New Metro Nagar for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision recorded the guideline value at Rs 1,660 per sq.ft, which remained unchanged in the 2024 revision, indicating a 0% change between these two years.

The current guideline value of Rs 1,660 per sq.ft was established in the 2024 revision, which is consistent with the figure from the previous year, 2023. This consistency suggests stability in the guideline value for New Metro Nagar over the past two revisions.

Guideline values in Vellavedu

Within Vellavedu, there are 11 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,475 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing New Metro Nagar's 2024 figure above that median.

• N.S.R Street: Rs 825 per sq.ft (2024)
• Shree Vaari Garden Phase-I: Rs 1,500 per sq.ft (2024)
• Kamadenu Enclave: Rs 825 per sq.ft (2024)
• Sree Vaari Garden Phase - II: Rs 1,700 per sq.ft (2024)
• Sri Prasanna Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Sri Prasanna Vinayakar Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in New Metro Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total cost to Rs 1,49,400. It is important to note that the 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 Metro Nagar?

The Sub Registrar Office that covers New Metro Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the property registration process in Vellavedu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for completing the transaction legally. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of New Metro Nagar?

The current guideline value of New Metro Nagar is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for New Metro Nagar has remained at Rs 1,660 per sq.ft since the 2023 revision and continues to be the same in the 2024 revision. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for New Metro Nagar?

The land classification for New Metro Nagar is Residential Special Type - II. This classification indicates the type of residential development permitted in the area.

What are the stamp duty and registration fees for property in New Metro Nagar?

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400. 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 Nagar?

The Sub Registrar Office for New Metro Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office handles the registration of properties in the area.