Guideline Value for NRI Centre City

NRI Centre City guideline value

The current guideline value of NRI Centre City in Valarpuram village is Rs 700 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sriperumpudur SRO and is classified as Commercial Special Type - I.

How the guideline value of NRI Centre City has changed

Over the years, the guideline value for NRI Centre City has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 700 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

In terms of historical data, the register has no figures for the years 2002, 2003, and 2007 for this street. The 2017 revision marked a notable increase from the 2012 figure, which was Rs 700 per sq.ft, down from Rs 469 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has remained stable, with a total change of +0%.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing NRI Centre City above this median at Rs 700 per sq.ft.

• Nehru Nagar: Rs 300 per sq.ft (2024)
• Muthamil Nagar: Rs 300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 200 per sq.ft (2024)
• Rajalakshmi Nagar: Rs 300 per sq.ft (2024)
• Rajalakshmi Nagar Part - II: Rs 300 per sq.ft (2024)
• Main Road: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in NRI Centre City

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total charges to Rs 63,000. 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 NRI Centre City?

The NRI Centre City is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Valarpuram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it directly affects the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these charges are based on a standardized valuation. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of NRI Centre City?

The current guideline value of NRI Centre City is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 469 per sq.ft in 2017 to 2023.

What are the registration fees for property in NRI Centre City?

The registration fees for a property in NRI Centre City include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for NRI Centre City?

The Sriperumpudur Sub Registrar Office handles registrations for NRI Centre City, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of NRI Centre City?

NRI Centre City is classified as Commercial Special Type - I, indicating its designation for commercial use within the area.