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Guideline Value

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Guideline Value for New Star City Diamond

₹770/sq.ft.

The guideline value for New Star City Diamond in Sholavaram village (Redhills SRO, Chennai zone) is Rs 770 per sq.ft, effective 1 July 2024. It was Rs 700 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

Sholavaram

Village

Redhills

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹770 /sq.ft.
From 1-4-2023 ₹700 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹469 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹700 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
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 Star City Diamond

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New Star City Diamond guideline value

The current guideline value for New Star City Diamond is Rs 770 per sq.ft, effective from 1 July 2024. It is located in Sholavaram village under the Redhills SRO and classified as Residential Class I Type - I.

How the guideline value of New Star City Diamond has changed

The guideline value for New Star City Diamond has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, it then dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 700 per sq.ft in 2023, and most recently, it has been set at Rs 770 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 285%.

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, with a median of Rs 660 per sq.ft. The guideline value for New Star City Diamond is above this median.

Stamp duty and registration fee for property in New Star City Diamond

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Star City Diamond?

The New Star City Diamond falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in avoiding any legal issues in the future.

Frequently asked questions

What is the current guideline value for New Star City Diamond?

The current guideline value for New Star City Diamond is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Sholavaram and their guideline values?

Other streets in Sholavaram include New Sun City at Rs 550 per sq.ft, New Sun City Annex, New Sun City Annexe-II, and New Sun City Annexe-III at Rs 1,005 per sq.ft, and New Sun City Elite at Rs 1,650 per sq.ft.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 53,900.

Where can I find the Sub Registrar Office for New Star City Diamond?

The Sub Registrar Office for New Star City Diamond is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can also find your specific SRO online.