Guideline Value for The Chennai New City

The Chennai New City guideline value

The current guideline value of The Chennai New City is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in the 44.Ayanambakkam village, under the Konnur SRO, and is classified as Residential Special Type - III.

How the guideline value of The Chennai New City has changed

The guideline value for The Chennai New City has undergone several revisions over the years. The earliest recorded figure is from 2017, where the value was Rs 1,072 per sq.ft. This increased to Rs 1,600 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, reflecting a 6% increase from 2023. The overall change from 2017 to 2024 is an increase of 59%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of these figures indicates that there were no recorded guideline values during those years.

Guideline values in 44.Ayanambakkam

In the village of 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, positioning The Chennai New City’s 2024 figure above this median.

• The chennai newcity EXTN: Rs 2,200 per sq.ft (2024)
• Tamilnadu Association of Cottage Industries: Rs 2,750 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,100 per sq.ft (2024)
• Thiruverkadu Road: Rs 1,100 per sq.ft (2024)
• Sri Vijaya Nagar: Rs 1,100 per sq.ft (2024)
• Sri Padavattamman Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in The Chennai New City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty is charged at 7%, which is Rs 1,19,000, and the registration fee is at 2%, amounting to Rs 34,000. Together, the total cost for stamp duty and registration fee is Rs 1,53,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers The Chennai New City?

The Chennai New City falls under the Konnur Sub Registrar Office located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone. 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 in the registration process 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 transaction.

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

Frequently asked questions

What is the current guideline value of The Chennai New City?

The current guideline value of The Chennai New City is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 59%, rising from Rs 1,072 per sq.ft to Rs 1,700 per sq.ft in 2024.

What is the registration office for The Chennai New City?

The registration office for The Chennai New City is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What are the stamp duty rates applicable?

The stamp duty rate is charged at 7% on the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where can I find more information about stamp duty and registration fees?

For more information on stamp duty and registration fees, you can visit our stamp duty and registration fee calculator.