Guideline Value for NOVA CITY

Nova City guideline value

The current guideline value of Nova City in Agaram village, under the Perambakkam SRO, is Rs 134 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - II land classification.

How the guideline value of Nova City has changed

Since the 2017 revision, the guideline value for Nova City has remained constant at Rs 134 per sq.ft. The register shows no figures for the years 2002, 2003, 2007, and 2012, indicating that there were no recorded changes during those periods.

In the 2023 revision, the guideline value remained at Rs 134 per sq.ft, with no percentage change from the previous year. Therefore, from the 2017 revision to the 2024 revision, the overall change has been 0%.

Guideline values in Agaram

In Agaram, there are three streets under the Perambakkam SRO that carry a 2024 guideline value ranging from Rs 134 to Rs 300 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Nova City is below this median.

• Sri Jeyalakshmi Nagar: Rs 250 per sq.ft (2024)
• Sun City: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Nova City

For a 1,000 sq.ft plot at the current rate of Rs 134 per sq.ft, the guideline value would be Rs 1,34,000. The stamp duty at 7% would amount to Rs 9,380, and the registration fee at 2% would be Rs 2,680, totaling Rs 12,060. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Nova City?

The Sub Registrar Office that covers Nova City is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Agaram. 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 sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Nova City?

The current guideline value of Nova City is Rs 134 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nova City has remained constant at Rs 134 per sq.ft since the 2017 revision, with no recorded changes in the years 2002, 2003, 2007, and 2012.

What are the guideline values of other streets in Agaram?

In Agaram, the guideline values for other streets are Rs 250 per sq.ft for Sri Jeyalakshmi Nagar and Rs 300 per sq.ft for Sun City as of 2024.

What fees are associated with property registration in Nova City?

For a property in Nova City, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 12,060 in fees.

Where can I find the Sub Registrar Office for Nova City?

The Sub Registrar Office for Nova City is located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.