Guideline Value for NEW STAR CITY

New Star City guideline value

The current guideline value of New Star City in Theerthangiriyampattu village is Rs 585 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Special Type - II.

How the guideline value of New Star City has changed

The guideline value for New Star City has undergone several revisions over the years. In 2017, the value was Rs 536 per sq.ft, which remained unchanged in the subsequent revision in 2023. However, in the 2024 revision, the guideline value increased to Rs 585 per sq.ft, marking a 9% rise from the previous year.

Looking further back, the 2017 revision of Rs 536 per sq.ft was the same as the 2023 revision, indicating no change during that period. Overall, from 2017 to 2024, the guideline value increased by 9%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Theerthangiriyampattu

Theerthangiriyampattu village has a total of 24 streets under the Redhills SRO, with guideline values ranging from Rs 330 to Rs 880 per sq.ft. The median guideline value in this area is Rs 605 per sq.ft, and New Star City's 2024 figure is below this median.

• New Star Garden: Rs 605 per sq.ft (2024)
• Paramanandam Nagar: Rs 330 per sq.ft (2024)
• Moongilan Street: Rs 605 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 770 per sq.ft (2024)
• Mettu Street: Rs 605 per sq.ft (2024)
• Poovai Moorthiyar Street: Rs 330 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 guideline value of Rs 585 per sq.ft, the total guideline value amounts to Rs 5,85,000. The stamp duty at 7% would be Rs 40,950, and the registration fee at 2% would be Rs 11,700, bringing the total cost for these fees to Rs 52,650. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Star City?

The Sub Registrar Office that covers New Star City 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Theerthangiriyampattu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the Registration Department.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are treated consistently and fairly according to the established guidelines.

Frequently asked questions

What is the current guideline value of New Star City?

The current guideline value of New Star City is Rs 585 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 536 per sq.ft in 2017 to Rs 585 per sq.ft in 2024, marking a 9% increase. There was no change in the value from 2017 to 2023.

What is the median guideline value for streets in Theerthangiriyampattu?

The median guideline value for streets in Theerthangiriyampattu is Rs 605 per sq.ft. New Star City's 2024 figure is below this median.

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

For a property valued at Rs 5,85,000, the stamp duty would be Rs 40,950 and the registration fee would be Rs 11,700, totaling Rs 52,650. This is calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for New Star City located?

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