Guideline Value for Nowroji Road

Nowroji Road guideline value

The current guideline value of Nowroji Road is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Nowroji Road has changed

The guideline value for Nowroji Road has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft, which increased significantly to Rs 8,500 per sq.ft in 2012. However, this figure dropped to Rs 5,695 per sq.ft in 2017. The 2023 revision raised the value to Rs 8,500 per sq.ft, and the latest revision in 2024 set it at Rs 9,300 per sq.ft. The revisions for 2002 and 2003 have no figures recorded for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by a 9% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has risen by 365%. The substantial increase from Rs 2,000 in 2007 to Rs 9,300 in 2024 illustrates significant changes in the guideline value over the years.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Nowroji Road's 2024 figure of Rs 9,300 per sq.ft is above this median.

• Nowroji Extension: Rs 9,300 per sq.ft (2024)
• Nowroji west road: Rs 9,300 per sq.ft (2024)
• N Street: Rs 13,400 per sq.ft (2024)
• Old JailWardenQuarters: Rs 6,300 per sq.ft (2024)
• Omres lane: Rs 13,400 per sq.ft (2024)
• Omres road 3rd cross street: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nowroji Road

For a 1,000 sq.ft plot at the current rate of Rs 9,300 per sq.ft, the guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, totaling Rs 8,37,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nowroji Road?

The Sub Registrar Office that covers Nowroji Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Egmore. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during registration.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nowroji Road?

The current guideline value of Nowroji Road is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 9,300 per sq.ft in 2024, showing an overall increase of 365% over the years.

What are the stamp duty and registration fees for properties on Nowroji Road?

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

Which Sub Registrar Office covers Nowroji Road?

The Periamet Sub Registrar Office covers Nowroji Road, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Egmore?

The median guideline value for streets in Egmore under the Periamet SRO is Rs 7,100 per sq.ft, with Nowroji Road's value being above this median.