Guideline Value for NEW STAR CITY ANNEX

New Star City Annex guideline value

The current guideline value of New Star City Annex in Alamathi village under the Redhills SRO is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of New Star City Annex has changed

The guideline value for New Star City Annex has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 603 per sq.ft, and in the latest 2024 revision, it has increased to Rs 660 per sq.ft, marking a change of +9%.

This increase reflects the current valuation trends in the area. The 2024 figure of Rs 660 per sq.ft is now above the median guideline value of Rs 550 per sq.ft for other streets in Alamathi under the Redhills SRO.

Guideline values in Alamathi

In Alamathi, there are 54 streets that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft. The New Star City Annex guideline value is above the median of Rs 550 per sq.ft. Below are the guideline values for other streets in Alamathi:

• New Star City: Rs 550 per sq.ft (2024)
• N.R.V. Nagar: Rs 550 per sq.ft (2024)
• Padavattamman Street: Rs 770 per sq.ft (2024)
• Nallur Road: Rs 550 per sq.ft (2024)
• Parthiban Nagar: Rs 550 per sq.ft (2024)
• Pelican Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in New Star City Annex

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. 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 more details.

Which Sub Registrar Office covers New Star City Annex?

The New Star City Annex falls under the jurisdiction of the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Alamathi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold or purchased, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected. This value is particularly important for ensuring compliance with local regulations and for the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of New Star City Annex?

The current guideline value of New Star City Annex is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 603 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, marking a 9% increase. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for New Star City Annex?

New Star City Annex is classified as Residential Special Type - III. This classification is important for understanding the type of development and usage permitted in the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 6,60,000, the total fees would amount to Rs 59,400.

Where can I find the Sub Registrar Office for New Star City Annex?

The Redhills Sub Registrar Office covers New Star City Annex and is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.