Guideline Value for New Chennai City Phase II

New Chennai City Phase II guideline value

The current guideline value of New Chennai City Phase II is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Nelllikuppam village under the Thiruporur SRO, classified as Residential Special Type - II.

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

According to the register, there are no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street. The 2023 revision also set the guideline value at Rs 500 per sq.ft, which remained unchanged in the 2024 revision, indicating a 0% change from the previous year.

The current guideline value of Rs 500 per sq.ft has been consistent since the 2023 revision. This stability reflects the same rate being applied for both the 2023 and 2024 revisions.

Guideline values in Nelllikuppam

In Nelllikuppam, there are 45 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 1,600 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value for New Chennai City Phase II is below this median.

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

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Chennai City Phase II?

The New Chennai City Phase II is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nelllikuppam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must ensure that the transaction reflects the current guideline value, as this will influence the overall costs associated with the purchase. Accurate reporting of the guideline value is essential for compliance with local regulations.

Frequently asked questions

What is the current guideline value of New Chennai City Phase II?

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

How has the guideline value changed over the years?

There have been no figures for the years 2002, 2003, 2007, 2012, and 2017 for New Chennai City Phase II. The guideline value remained at Rs 500 per sq.ft for both the 2023 and 2024 revisions.

What is the median guideline value in Nelllikuppam?

The median guideline value in Nelllikuppam is Rs 1,000 per sq.ft, with New Chennai City Phase II's value being below this median.

What are the stamp duty and registration fees for a property in New Chennai City Phase II?

For a 1,000 sq.ft plot 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.

Which office handles registrations for New Chennai City Phase II?

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