Guideline Value for NEW SUN CITY ELITE

New Sun City Elite guideline value

The current guideline value of New Sun City Elite is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Sholavaram village, under the Redhills SRO, classified as Commercial Class I Type - I.

How the guideline value of New Sun City Elite has changed

The guideline value for New Sun City Elite has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 1,650 per sq.ft in 2024, marking a change of +10%.

With the 2024 revision, the guideline value of New Sun City Elite now stands above the median of Rs 660 per sq.ft for the 98 streets in Sholavaram under the Redhills SRO. The 2023 revision was the last recorded figure before the current rate.

Guideline values in Sholavaram

In Sholavaram, the guideline values for various streets range from Rs 515 to Rs 3,500 per sq.ft as of 2024, with a median value of Rs 660 per sq.ft. New Sun City Elite's current guideline value is notably above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Sun City Elite?

The Sub Registrar Office that covers New Sun City Elite 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 Sholavaram

The guideline value is a crucial factor in the registration process of property transactions in Sholavaram. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value will be compared to the sale price, and the duty is charged on the higher of the two. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of New Sun City Elite is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, reflecting an increase of +10%. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the classification of land for New Sun City Elite?

New Sun City Elite is classified as Commercial Class I Type - I. This classification can impact the guidelines and regulations applicable to the property.

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 the stamp duty calculated for properties in New Sun City Elite?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.