Guideline Value for New Century Nagar

New Century Nagar guideline value

The current guideline value of New Century Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is located in 44.Ayanambakkam village under the Konnur SRO and is classified as Residential Class I Type - II.

How the guideline value of New Century Nagar has changed

The guideline value for New Century Nagar has seen several revisions over the years. In the 2017 revision, the value was Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision. The most recent 2024 revision has set the value at Rs 1,400 per sq.ft, marking an increase of 8% from the previous year. The overall change from 2017 to 2024 is a significant rise of 61%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The increase from 2017 to 2023 was 49%, reflecting the changes in the area's valuation over time.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO, with guideline values ranging from Rs 801 to Rs 9,702 per sq.ft as of 2024. The median guideline value for the area is Rs 1,300 per sq.ft, making New Century Nagar's 2024 figure of Rs 1,400 per sq.ft above this median.

• New Anna Nagar: Rs 1,700 per sq.ft (2024)
• Nehru Street: Rs 1,100 per sq.ft (2024)
• NolamburRoad: Rs 2,200 per sq.ft (2024)
• Nova Aradiya Nagar: Rs 4,000 per sq.ft (2024)
• Nova Element 5: Rs 2,130 per sq.ft (2024)
• Nova Element 5 Extension I: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in New Century Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total fees to Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Century Nagar?

The Sub Registrar Office that covers New Century Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor when buying or selling property in 44.Ayanambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. It is essential for both parties to understand the implications of the guideline value in their property transactions.

Frequently asked questions

What is the current guideline value of New Century Nagar?

The current guideline value of New Century Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 871 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 61% over this period.

What is the median guideline value in 44.Ayanambakkam?

The median guideline value in 44.Ayanambakkam is Rs 1,300 per sq.ft, with New Century Nagar's value of Rs 1,400 per sq.ft being above this median.

What are the stamp duty and registration fees for a property in New Century Nagar?

For a property valued at Rs 14,00,000 in New Century Nagar, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.