Guideline Value

Corporate

Guideline Value for New Diamond City

₹550/sq.ft.

The guideline value for New Diamond City 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 Diamond City

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New Diamond City guideline value

The current guideline value of New Diamond City, located in Sholavaram village under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of New Diamond City has changed

The guideline value for New Diamond City has undergone several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in 2017. Following this, the value increased to Rs 500 per sq.ft in 2023, and then further rose to Rs 550 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

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. The median value for these streets is Rs 660 per sq.ft, placing New Diamond City's 2024 figure below this median.

Stamp duty and registration fee for property in New Diamond 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 at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Diamond City?

The New Diamond City area 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 Sholavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Sholavaram. It serves as a benchmark for calculating various fees, including stamp duty and registration charges, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of New Diamond City?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 500 in 2012 to Rs 335 in 2017, then rising to Rs 500 in 2023, and finally to Rs 550 in 2024.

What is the land classification of New Diamond City?

New Diamond City is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the registration office for New Diamond City?

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

How is stamp duty calculated for properties in New Diamond City?

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