Guideline Value for NOVA Meridian

NOVA Meridian guideline value

The current guideline value for NOVA Meridian is Rs 4,355 per sq.ft, effective from 1 July 2024. This property is located in 1. Nolambur village under the Villivakkam SRO, classified as Residential Special Type - III.

How the guideline value of NOVA Meridian has changed

According to the register, the most recent revision in 2024 shows a guideline value of Rs 4,355 per sq.ft. The previous revision in 2023 also recorded the same value of Rs 4,355 per sq.ft. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017 for this street.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 4,355 per sq.ft. This consistency indicates stability in the valuation for this property over the past two years.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft in 2024. The median value for these streets is Rs 7,100 per sq.ft, placing NOVA Meridian's 2024 figure below this median.

• Nova Colours: Rs 4,355 per sq.ft (2024)
• NOVA Sprint: Rs 7,100 per sq.ft (2024)
• Nolambur Main Road: Rs 7,100 per sq.ft (2024)
• Pacific City: Rs 7,100 per sq.ft (2024)
• Padasalai Street: Rs 3,300 per sq.ft (2024)
• Panjamuga Sivan Koil Street: Rs 4,355 per sq.ft (2024)

Stamp duty and registration fee for property in NOVA Meridian

For a 1,000 sq.ft plot at the current guideline value of Rs 4,355 per sq.ft, the total guideline value amounts to Rs 43,55,000. The stamp duty at 7% would be Rs 3,04,850, and the registration fee at 2% would be Rs 87,100, leading to a total cost of Rs 3,91,950. Please 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 NOVA Meridian?

The NOVA Meridian property falls under the jurisdiction of the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role during property transactions in 1. Nolambur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair valuation, which is essential for legal and tax purposes. It is important for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value for NOVA Meridian?

The current guideline value for NOVA Meridian is Rs 4,355 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained consistent at Rs 4,355 per sq.ft from 2023 to 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification for NOVA Meridian?

NOVA Meridian is classified as Residential Special Type - III, which is important for understanding zoning and land use regulations in the area.

What are the stamp duty and registration fees for property in NOVA Meridian?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,04,850, and the registration fee would be Rs 87,100, totaling Rs 3,91,950.

Where is the Sub Registrar Office for NOVA Meridian located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.