Guideline Value

Corporate

Guideline Value for NEW SUN GARDEN PHASE - I

₹440/sq.ft.

The guideline value for New Sun Garden Phase - I in Palavayal village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 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

Palavayal

Village

Redhills

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /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 Garden Phase - I

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New Sun Garden Phase - I guideline value

The current guideline value of New Sun Garden Phase - I is Rs 440 per sq.ft, effective from 1 July 2024. This property is located in Palavayal village, under the Redhills SRO, and falls under the Residential Class I Type - I land classification.

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

The guideline value for New Sun Garden Phase - I has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in the 2017 revision. The value saw a significant increase in the 2023 revision to Rs 400 per sq.ft, followed by a further increase to Rs 440 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavayal

In Palavayal, there are 22 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 1,200 per sq.ft, with the median value being Rs 440 per sq.ft. The guideline value for New Sun Garden Phase - I aligns with this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It’s 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 Garden Phase - I?

The New Sun Garden Phase - I is covered by 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 Palavayal

The guideline value plays a crucial role in the registration process when buying or selling property in Palavayal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both parties are aware of the official value set by the government.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the actual sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with legal requirements.

Frequently asked questions

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

The current guideline value of New Sun Garden Phase - I is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the stamp duty for property in New Sun Garden Phase - I?

The stamp duty for property in New Sun Garden Phase - I is 7% of the guideline value, which would be Rs 30,800 for a 1,000 sq.ft plot at the current rate.

Which office handles registrations for New Sun Garden Phase - I?

The Redhills Sub Registrar Office handles registrations for New Sun Garden Phase - I, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined for properties in Palavayal?

The guideline value for properties in Palavayal is determined by the government and varies by street. It is based on various factors and is revised periodically to reflect current market conditions.