Guideline Value for NEW NAGAR

New Nagar guideline value

The current guideline value of New Nagar is Rs 870 per sq.ft, effective from 1 July 2024. This street is located in Thiruninravur-B village under the Avadi Sub Registrar Office (SRO) and falls under the Residential Class II Type - II land classification.

How the guideline value of New Nagar has changed

The guideline value for New Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 737 per sq.ft. In 2023, it increased to Rs 800 per sq.ft, marking a 9% rise. The most recent revision in 2024 has seen a further increase to Rs 870 per sq.ft, which is also a 9% increase from the previous year. Notably, the overall change from the 2017 revision to the 2024 revision is an increase of 18%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 330 to Rs 1,760 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing New Nagar's 2024 guideline value above this median.

• New Indira Nagar: Rs 770 per sq.ft (2024)
• N.G.O Nagar & Streets: Rs 870 per sq.ft (2024)
• N.S.K.Nagar: Rs 770 per sq.ft (2024)
• N.S.K.Nagar & Streets: Rs 770 per sq.ft (2024)
• Nehru Nagar & Streets: Rs 440 per sq.ft (2024)
• Nehru Nagar Road: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in New Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,70,000. The stamp duty at 7% would be Rs 60,900, and the registration fee at 2% would be Rs 17,400, totaling Rs 78,300. It is important to note that the 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 Nagar?

The Sub Registrar Office that covers New Nagar is 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 Thiruninravur-B

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruninravur-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is in line with the official rates set by the government. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of New Nagar?

The current guideline value of New Nagar is Rs 870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 737 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, and then to Rs 870 per sq.ft in 2024. This represents an overall increase of 18% from 2017 to 2024.

What is the stamp duty for property in New Nagar?

The stamp duty for property in New Nagar is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 60,900.

Where can I find the Sub Registrar Office for New Nagar?

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

What is the land classification of New Nagar?

New Nagar falls under the Residential Class II Type - II land classification, which is designated for residential purposes.