Guideline Value for NEW STAR CITY ANNEX

New Star City Annex guideline value

The current guideline value of New Star City Annex, located in Atthivakkam village, is Rs 440 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of New Star City Annex has changed

The guideline value for New Star City Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was later reduced to Rs 268 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Atthivakkam

In Atthivakkam, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,400 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the guideline value of New Star City Annex.

• New Star City: Rs 440 per sq.ft (2024)
• Sapthar Hasmi Nagar: Rs 330 per sq.ft (2024)
• Sapthar Hasmi Nagar 2 nd Part: Rs 330 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 330 per sq.ft (2024)
• Sri Bala Vinayaga Nagar: Rs 330 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 330 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 guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Atthivakkam. It serves as a benchmark for determining the stamp duty and registration fees due at the time of sale or purchase.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This process helps maintain transparency and consistency in property dealings.

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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers New Star City Annex?

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

What is the land classification for New Star City Annex?

New Star City Annex is classified as Residential Class I Type - I, indicating its suitability for residential development.