Guideline Value for NEW STAR CITY

New Star City guideline value

The current guideline value of New Star City, located in Perungavur village under the Redhills SRO, is Rs 275 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of New Star City has changed

The guideline value for New Star City has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which decreased to Rs 167 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 50%, bringing the value up to Rs 250 per sq.ft. The latest revision in 2024 has further increased the value by 10%, resulting in the current rate of Rs 275 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for New Star City. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 1,500 per sq.ft. The median value for these streets is Rs 275 per sq.ft, which is equal to the guideline value of New Star City.

• New Star City Gold: Rs 220 per sq.ft (2024)
• New Apoorva Boomi Part-I: Rs 275 per sq.ft (2024)
• New Aboorva Boomi Part-2: Rs 275 per sq.ft (2024)
• New Aboorva Boomi: Rs 275 per sq.ft (2024)
• Modern Town: Rs 385 per sq.ft (2024)
• M.M. Modern City: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in New Star City

For a 1,000 sq.ft plot at the current rate of Rs 275 per sq.ft, the guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. 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?

The New Star City area 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 Perungavur

The guideline value is a crucial factor when registering property in Perungavur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable duties. It is essential to consider this value, as it can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of New Star City?

The current guideline value of New Star City is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then increased to Rs 250 per sq.ft in 2023, and finally to Rs 275 per sq.ft in 2024.

What is the median guideline value in Perungavur?

The median guideline value in Perungavur is Rs 275 per sq.ft, which is the same as the current value for New Star City.

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

For a 1,000 sq.ft plot, the stamp duty is Rs 19,250 and the registration fee is Rs 5,500, totaling Rs 24,750 based on the current guideline value.

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.