Guideline Value for NEW SUN CITY

New Sun City guideline value

The current guideline value of New Sun City is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vichoor_B village, under the Thiruvottiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of New Sun City has changed

The guideline value for New Sun City has seen significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft. In 2023, this value increased to Rs 500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 raised the guideline value to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vichoor_B

In Vichoor_B, 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, placing New Sun City's value 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 is charged at 7%, which is Rs 38,500, and the registration fee is 2%, amounting to Rs 11,000. Together, these fees total 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_B

The guideline value plays a crucial role in the registration process when buying or selling property in Vichoor_B. It is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from the sale. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration process.

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 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, representing a 64% overall increase.

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

The stamp duty for properties in New Sun City is 7%, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees amount to Rs 49,500.

Which office handles registrations for New Sun City?

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

What is the median guideline value for streets in Vichoor_B?

The median guideline value for the 45 streets in Vichoor_B is Rs 485 per sq.ft, with New Sun City's value of Rs 550 per sq.ft being above this median.