Guideline Value for NEW TOWN

New Town guideline value

The current guideline value of New Town, Kannivakkam village, under the Thiruporur SRO is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is New House Site Type -II (Unapproved Lay-Out).

How the guideline value of New Town has changed

The guideline value for New Town has remained consistent over the years. The 2017 revision set the value at Rs 1,100 per sq.ft, which was unchanged in the subsequent 2023 revision. The latest revision in 2024 also maintains this figure at Rs 1,100 per sq.ft, indicating no percentage change across these years.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the guideline value has seen no change from 2017 to 2024, with an overall change of +0% during this period.

Guideline values in Kannivakkam

In Kannivakkam, there are 32 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,389 per sq.ft, with a median value of Rs 1,050 per sq.ft. The guideline value for New Town is above this median.

• Omega Town 1: Rs 1,000 per sq.ft (2024)
• Omega Town 2: Rs 1,000 per sq.ft (2024)
• Lotus Avenue: Rs 1,200 per sq.ft (2024)
• Kural Nagar: Rs 603 per sq.ft (2024)
• Sai Chitra Nagar: Rs 1,100 per sq.ft (2024)
• Sai Enclave: Rs 1,493 per sq.ft (2024)

Stamp duty and registration fee for property in New Town

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Town?

The New Town area is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kannivakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the correct amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value of New Town?

The current guideline value of New Town, Kannivakkam village, is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for New Town has remained unchanged at Rs 1,100 per sq.ft since the 2017 revision, with no percentage changes noted in the revisions of 2023 and 2024.

What are the guideline values of other streets in Kannivakkam?

Other streets in Kannivakkam have varying guideline values, with rates ranging from Rs 450 to Rs 2,389 per sq.ft. The median value for these streets is Rs 1,050 per sq.ft.

How is stamp duty calculated for property in New Town?

Stamp duty for property in New Town is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.

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

The Sub Registrar Office covering New Town is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find more information about your SRO online.