Guideline Value

Corporate

Guideline Value for NEW SUN CITY PHASE - IV

₹770/sq.ft.

The guideline value for New Sun City Phase - Iv in Sholavaram village (Redhills SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholavaram

Village

Redhills

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹700 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on New Sun City Phase - Iv

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New Sun City Phase - IV guideline value

The current guideline value for New Sun City Phase - IV is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Sholavaram village under the Redhills SRO, classified as Residential Class I Type - I.

How the guideline value of New Sun City Phase - IV has changed

Over the years, the guideline value for New Sun City Phase - IV has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision and further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value surged by 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase. The guideline register has no figures for the years 2002, 2003, and 2007 for this street.

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 Phase - IV is above this median.

Stamp duty and registration fee for property in New Sun City Phase - IV

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers New Sun City Phase - IV?

The Sub Registrar Office that covers New Sun City Phase - IV 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 Sholavaram

The guideline value is a crucial factor during the registration of property transactions in Sholavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value for New Sun City Phase - IV?

The current guideline value for New Sun City Phase - IV is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,70,000, the stamp duty at 7% is Rs 53,900, and the registration fee at 2% is Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office located for New Sun City Phase - IV?

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

How does the guideline value affect property transactions?

The guideline value determines the minimum price for property registration, impacting the stamp duty and registration fees. It is essential for buyers and sellers to be aware of this value to ensure a smooth transaction process.