Guideline Value for NOVA NCR

Nova Ncr guideline value

The current guideline value of Nova Ncr in Mannivakkam village, under the Gooduvancheri SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Nova Ncr has changed

The guideline value for Nova Ncr has seen a revision from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. Prior to this, the value remained unchanged at Rs 3,000 per sq.ft from the 2017 revision through to 2023. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. This consistent increase highlights the current valuation trends for the area.

Guideline values in Mannivakkam

Mannivakkam has 118 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, placing Nova Ncr's 2024 figure above this median.

• Outer Ring Road: Rs 1,650 per sq.ft (2024)
• Nethaji Avenue: Rs 2,200 per sq.ft (2024)
• Nedunsalai Nagar: Rs 1,100 per sq.ft (2024)
• Naresh Avenue: Rs 1,100 per sq.ft (2024)
• Muthukrishnan Nagar: Rs 990 per sq.ft (2024)
• Mudichur Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Nova Ncr

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nova Ncr?

The Nova Ncr area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nova Ncr?

The current guideline value of Nova Ncr is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 3,000 per sq.ft from 2017 to 2023, then increased to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

What are the guideline values for other streets in Mannivakkam?

Other streets in Mannivakkam have varying guideline values, with rates ranging from Rs 330 to Rs 4,300 per sq.ft. For example, Outer Ring Road is valued at Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Nova Ncr?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Nova Ncr?

The Gooduvancheri Sub Registrar Office handles registrations for Nova Ncr, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.