Guideline Value for New Chennai City Phase III

New Chennai City Phase III guideline value

The current guideline value for New Chennai City Phase III is Rs 500 per sq.ft. This property is located in Nelllikuppam village and falls under the Thiruporur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of New Chennai City Phase III has changed

The guideline value for New Chennai City Phase III has remained consistent over recent revisions. In the 2023 revision, the guideline value was Rs 500 per sq.ft, and this figure has not changed in the 2024 revision, which is also set at Rs 500 per sq.ft. There are no figures available for this street in the revisions from 2002, 2003, 2007, 2012, and 2017.

Thus, the changes between the 2023 and 2024 revisions show an increase of 0%, indicating stability in the guideline value for this property. The consistent valuation suggests a steady approach to property assessment in this locality.

Guideline values in Nelllikuppam

Nelllikuppam has a total of 45 streets under the Thiruporur SRO, with the 2024 guideline values ranging from Rs 400 to Rs 1,600 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing the New Chennai City Phase III guideline value below this median.

• New Chennai City Phase II: Rs 500 per sq.ft (2024)
• New Chennai City Phase IV: Rs 500 per sq.ft (2024)
• New Chennai City Phase V: Rs 500 per sq.ft (2024)
• New Chennai City Phase -1: Rs 500 per sq.ft (2024)
• New Chennai City Annex I: Rs 500 per sq.ft (2024)
• New Chennai City Annex: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in New Chennai City Phase III

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers New Chennai City Phase III?

The New Chennai City Phase III is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. For further details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nelllikuppam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the local authorities.

When registering a property, the guideline value helps to establish the official value of the property, which can affect the overall costs involved in the transaction. Buyers and sellers should be aware of the current guideline value to prepare for the financial implications of the registration process.

Frequently asked questions

What is the current guideline value for New Chennai City Phase III?

The current guideline value for New Chennai City Phase III is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for New Chennai City Phase III has remained at Rs 500 per sq.ft since the 2023 revision, with no changes noted between 2023 and 2024. There are no figures available for the revisions from 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value for streets in Nelllikuppam?

The median guideline value for the 45 streets in Nelllikuppam is Rs 1,000 per sq.ft. The New Chennai City Phase III guideline value is below this median.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for New Chennai City Phase III?

The Thiruporur Sub Registrar Office handles the registration for New Chennai City Phase III. It is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.