Guideline Value

Corporate

Guideline Value for NEW SUN CITY PHASE - I

₹550/sq.ft.

The guideline value for New Sun City Phase - I in Sholavaram village (Redhills SRO, Chennai zone) is Rs 550 per sq.ft, effective 1 July 2024. It was Rs 500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholavaram

Village

Redhills

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹550 /sq.ft.
From 1-4-2023 ₹500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹335 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹500 /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 - I

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New Sun City Phase - I guideline value

The current guideline value of New Sun City Phase - I is Rs 550 per sq.ft, effective from 1 July 2024. This property is located in Sholavaram village under the Redhills SRO and falls under the Residential Class III Type - I land classification.

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

The guideline value for New Sun City Phase - I has undergone several revisions over the years. The earliest figure available is from 2012, set at Rs 500 per sq.ft. This value remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft. In 2023, the value increased to Rs 500 per sq.ft, and the most recent revision in 2024 raised it to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The 2023 to 2024 revision reflects a 10% increase, while the jump from 2017 to 2023 shows a significant rise of 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have 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 - I is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers New Sun City Phase - I 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 property transactions in Sholavaram, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value influences the stamp duty and registration fees applicable during the transfer of ownership.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of New Sun City Phase - I?

The current guideline value of New Sun City Phase - I is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 550 per sq.ft in 2024, with fluctuations in between, including a decrease to Rs 335 per sq.ft in 2017 and an increase back to Rs 500 per sq.ft in 2023.

What is the land classification for New Sun City Phase - I?

New Sun City Phase - I is classified as Residential Class III Type - I, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for New Sun City Phase - I?

The Sub Registrar Office for New Sun City Phase - I 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 Phase - I?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 at a rate of 7%.