Guideline Value for NEW SUN CITY

New Sun City guideline value

The current guideline value of New Sun City, located in Vichoor village, falls under the Thiruvottiyur SRO. As of the 2024 revision, the guideline value is set at Rs 550 per sq.ft. The land classification for this area is Commercial Class I Type - I.

How the guideline value of New Sun City has changed

The guideline value for New Sun City has seen several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and further rose to Rs 550 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, leading to an overall increase of 10% from 2012 to 2024.

Guideline values in Vichoor

In Vichoor, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median guideline value for these streets is Rs 485 per sq.ft, positioning New Sun City above this median.

• Muthulakshmi Nagar: Rs 330 per sq.ft (2024)
• Muthaalamman Nagar: Rs 330 per sq.ft (2024)
• Ponneri High Road: Rs 550 per sq.ft (2024)
• Meenakshi Nagar: Rs 330 per sq.ft (2024)
• Manjula Nagar: Rs 440 per sq.ft (2024)
• Lakshmi Nagar/Ext: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in New Sun City

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, charged at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, these fees amount to Rs 49,500. It is important to note that the 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?

The Sub Registrar Office that covers New Sun City is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vichoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and transparently. It helps in calculating the fees associated with the registration process, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of New Sun City?

The current guideline value of New Sun City is Rs 550 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for New Sun City?

New Sun City is classified as Commercial Class I Type - I, which is significant for understanding its usage and potential development.

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

Stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total fees would amount to Rs 49,500.

Which office handles property registrations in New Sun City?

The Thiruvottiyur Sub Registrar Office handles property registrations for New Sun City, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.