Guideline Value for NRI centre city ph.II

NRI centre city ph.II guideline value

The current guideline value of NRI centre city ph.II is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Kondavakkam village under the Sriperumpudur SRO, classified as Commercial Class I Type - I.

How the guideline value of NRI centre city ph.II has changed

The guideline value for NRI centre city ph.II has seen various revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 700 per sq.ft. The 2017 revision marked a significant increase to Rs 469 per sq.ft, reflecting a 49% rise from the previous 2017 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 700 per sq.ft, indicating no change over this period.

Guideline values in Kondavakkam

Kondavakkam village features six streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 903 per sq.ft, with the median value being Rs 700 per sq.ft. NRI centre city ph.II aligns with this median at Rs 700 per sq.ft.

• NRI Centre City: Rs 700 per sq.ft (2024)
• Mahidhara Central - II Sector-I: Rs 903 per sq.ft (2024)
• Mahidara Central: Rs 700 per sq.ft (2024)
• Sri Sai Balaji Nagar: Rs 250 per sq.ft (2024)
• Teachers Spanish City: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in NRI centre city ph.II

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, calculated at 7%, would be Rs 49,000, while the registration fee at 2% would be Rs 14,000. Therefore, the total cost for these fees would be Rs 63,000. It is essential 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 ph.II?

The NRI centre city ph.II falls under the jurisdiction of 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 Kondavakkam

The guideline value plays a crucial role during the registration of property transactions in Kondavakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are essential costs associated with property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency in the real estate market and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of NRI centre city ph.II?

The current guideline value of NRI centre city ph.II 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 since 2012, with a significant increase from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for property in NRI centre city ph.II?

For a 1,000 sq.ft plot, the total guideline value is Rs 7,00,000. The stamp duty is Rs 49,000, and the registration fee is Rs 14,000, totaling Rs 63,000 for these fees.

Which office handles registrations for NRI centre city ph.II?

The Sriperumpudur Sub Registrar Office handles registrations for NRI centre city ph.II, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately and that the appropriate taxes are collected, maintaining transparency in the real estate market.