Guideline Value for The Chennai New City

The Chennai New City guideline value

The current guideline value of The Chennai New City is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in 5. Athipattu village under the Konnur SRO and is classified as Residential Class II Type - I.

How the guideline value of The Chennai New City has changed

The guideline value for The Chennai New City has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 saw the value rise to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 59%. Notably, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing The Chennai New City’s 2024 figure below that median.

• The chennai newcity EXTN: Rs 2,200 per sq.ft (2024)
• Tharangini Appartment: Rs 3,600 per sq.ft (2024)
• Thamarai Street: Rs 2,200 per sq.ft (2024)
• Thamarabarani Street(ICF): Rs 2,400 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,300 per sq.ft (2024)
• Tamilnadu small scale Industries Owners Assn. Layout: Rs 3,601 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 rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 information.

Which Sub Registrar Office covers The Chennai New City?

The Chennai New City falls under the Konnur Sub Registrar Office located at Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in property transactions in 5. Athipattu, as it determines the stamp duty and registration fees payable during the registration process. Buyers and sellers should be aware that the guideline value may influence the overall costs involved in the transfer of property ownership.

When a property is sold, the guideline value is used as a basis for calculating the applicable duties and fees. It is essential for both parties to understand the implications of the guideline value to ensure a smooth transaction.

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 1,600 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 1,005 per sq.ft to Rs 1,600 per sq.ft as of the 2024 revision.

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 Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, Chennai registration zone.

How is the stamp duty calculated for properties in The Chennai New City?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,600 per sq.ft, the stamp duty would be Rs 1,12,000.

What are the other streets in 5. Athipattu with their guideline values?

Other streets in 5. Athipattu include The chennai newcity EXTN at Rs 2,200 per sq.ft, Tharangini Appartment at Rs 3,600 per sq.ft, Thamarai Street at Rs 2,200 per sq.ft, Thamarabarani Street(ICF) at Rs 2,400 per sq.ft, Thirumalai Nagar at Rs 1,300 per sq.ft, and Tamilnadu small scale Industries Owners Assn. Layout at Rs 3,601 per sq.ft.