Guideline Value

Corporate

Guideline Value for NEW STAR CITY DIAMOND

₹515/sq.ft.

The guideline value for New Star City Diamond in Grandlyon village (Redhills SRO, Chennai zone) is Rs 515 per sq.ft, effective 1 July 2024. It was Rs 469 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Grandlyon

Village

Redhills

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹515 /sq.ft.
From 1-4-2023 ₹469 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]

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New Star City Diamond guideline value

The current guideline value for New Star City Diamond is Rs 515 per sq.ft, effective from 1 July 2024. This property is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class V Type - I.

How the guideline value of New Star City Diamond has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 469 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 515 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO carrying a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for New Star City Diamond is below this median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 5,15,000. The stamp duty at 7% amounts to Rs 36,050, and the registration fee at 2% is Rs 10,300, totaling Rs 46,350. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Star City Diamond?

The New Star City Diamond property is covered by 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 Grandlyon

The guideline value is a crucial factor in property transactions, as it determines the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to accurately calculate the costs involved in the transaction.

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

Frequently asked questions

What is the current guideline value for New Star City Diamond?

The current guideline value for New Star City Diamond is Rs 515 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 469 per sq.ft in 2017 to Rs 515 per sq.ft in 2024, reflecting a 10% increase. There was no change in the value from 2017 to 2023.

What is the land classification for New Star City Diamond?

New Star City Diamond is classified as Residential Class V Type - I.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in New Star City Diamond?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 36,050.