Guideline Value for NEW STAR CITY-II

New Star City-II guideline value

The current guideline value of New Star City-II is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Palavayal village and falls under the Redhills SRO with a land classification of Industries Type - I.

How the guideline value of New Star City-II has changed

According to the guideline value register, there are no figures available for New Star City-II for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 700 per sq.ft for both the 2023 and 2024 revisions, showing no change between these years.

The 2024 revision, effective from 1 July 2024, maintains the guideline value at Rs 700 per sq.ft, consistent with the previous year's figure. This indicates stability in the guideline value for New Star City-II over the last two years.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 275 to Rs 1,200 per sq.ft. The median value for these streets is Rs 440 per sq.ft, placing New Star City-II above this median.

• New Star City-III: Rs 700 per sq.ft (2024)
• New Star City-1: Rs 700 per sq.ft (2024)
• New Sun Garden Phase - I: Rs 440 per sq.ft (2024)
• Painthamil Nagar: Rs 440 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 440 per sq.ft (2024)
• Poombugar Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in New Star City-II

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Star City-II?

The Sub Registrar Office that covers New Star City-II is 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 details.

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

The guideline value is a critical factor in property transactions in Palavayal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 New Star City-II?

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

How has the guideline value changed over the years?

The guideline value for New Star City-II has remained at Rs 700 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Palavayal?

In Palavayal, the guideline values for other streets range from Rs 275 to Rs 1,200 per sq.ft, with a median value of Rs 440 per sq.ft. New Star City-II is above this median.

What are the stamp duty and registration fees for New Star City-II?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers New Star City-II?

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