Guideline Value for NEW SUN CITY ANNEX

New Sun City Annex guideline value

The current guideline value of New Sun City Annex is Rs 1,005 per sq.ft. This property is located in Sholavaram village, under the Redhills SRO, and is classified as Commercial Class I Type - II.

How the guideline value of New Sun City Annex has changed

The guideline value for New Sun City Annex has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This was followed by a significant decrease in 2017, where the value dropped to Rs 1,005 per sq.ft. The same value was maintained in the subsequent revisions of 2023 and 2024, with no changes noted between these years.

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 decreased by 33%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for New Sun City Annex is above this median.

• New Sun City Annexe-II: Rs 1,005 per sq.ft (2024)
• New Sun City Annexe-III: Rs 1,005 per sq.ft (2024)
• New Sun City Elite: Rs 1,650 per sq.ft (2024)
• New Sun City Phase - I: Rs 550 per sq.ft (2024)
• New Sun City: Rs 550 per sq.ft (2024)
• New Sun City Phase - IV: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in New Sun City Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,005 per sq.ft, the total guideline value amounts to Rs 10,05,000. The stamp duty at 7% would be Rs 70,350, and the registration fee at 2% would be Rs 20,100, making the total cost for these fees Rs 90,450. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers New Sun City Annex?

The New Sun City Annex falls under the jurisdiction of 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 Sholavaram

The guideline value is a crucial factor when registering property transactions in Sholavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction aligns with government assessments.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of New Sun City Annex?

The current guideline value of New Sun City Annex is Rs 1,005 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has decreased from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and this value has remained unchanged through 2023 and 2024.

What is the land classification for New Sun City Annex?

New Sun City Annex is classified as Commercial Class I Type - II, indicating its commercial usage potential.

What are the stamp duty and registration fees for property in New Sun City Annex?

For a property valued at Rs 10,05,000, the stamp duty would be Rs 70,350, and the registration fee would be Rs 20,100, totaling Rs 90,450.

Which office handles registrations for New Sun City Annex?

The Redhills Sub Registrar Office handles registrations for New Sun City Annex, located on Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.