Guideline Value

Corporate

Guideline Value for Nova Nagar

₹550/sq.ft.

The guideline value for Nova Nagar in Chinnapanicheri village (Kunrathur SRO, Chennai zone) is Rs 550 per sq.ft, effective 1 July 2024. It was Rs 500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chinnapanicheri

Village

Kunrathur

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹550 /sq.ft.
From 1-4-2023 ₹500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹335 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹100 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Nova Nagar

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Nova Nagar guideline value

The current guideline value of Nova Nagar, located in Chinnapanicheri village under the Kunrathur SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Nova Nagar has changed

Starting with the 2007 revision, the guideline value was set at Rs 100 per sq.ft. This figure saw a significant increase in the 2012 revision to Rs 500 per sq.ft, marking a rise of 400%. However, in 2017, the value decreased to Rs 335 per sq.ft, reflecting a drop of 33%. The subsequent 2023 revision raised the value to Rs 500 per sq.ft, which was then increased by 10% to reach the current rate of Rs 550 per sq.ft effective from 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2007 to 2024 represents an increase of 450%. This illustrates the fluctuations in the guideline value over the years, with the most recent adjustment reflecting a positive trend.

Guideline values in Chinnapanicheri

In Chinnapanicheri, there are 14 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft. The median value for these streets is Rs 675 per sq.ft, placing Nova Nagar's 2024 figure below this median.

Stamp duty and registration fee for property in Nova Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. 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 our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nova Nagar?

The Sub Registrar Office that covers Nova Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chinnapanicheri. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of the guideline value to understand the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Nova Nagar?

The current guideline value of Nova Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 100 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, representing an overall increase of 450%.

What are the other streets in Chinnapanicheri?

Other streets in Chinnapanicheri include Panchatcharam Nagar, Panchatcharam Nagar Annexe, Muthu Mari Amman Koil Street, Moogambigai Nagar, Pudhupettai street, and Mari Amman Koil Street, with varying guideline values.

What are the stamp duty and registration fees for properties in Nova Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in Nova Nagar.