Guideline Value for New Star City

New Star City guideline value

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

How the guideline value of New Star City has changed

The guideline value for New Star City has undergone several revisions over the years. In the 2017 revision, the value was Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw another increase of 10%, bringing the value to Rs 440 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Atthivakkam

In Atthivakkam, there are 27 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 1,400 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which is equal to the guideline value for New Star City.

• New Star City Annex: Rs 440 per sq.ft (2024)
• Sapthar Hasmi Nagar: Rs 330 per sq.ft (2024)
• Sapthar Hasmi Nagar 2 nd Part: Rs 330 per sq.ft (2024)
• Kamatchi Amman Nagar: Rs 330 per sq.ft (2024)
• Sri Bala Vinayaga Nagar: Rs 330 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in New Star City

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800. Therefore, the total cost for stamp duty and registration fees together would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Star City?

The Sub Registrar Office that covers New Star City is 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 Atthivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Atthivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of New Star City?

The current guideline value of New Star City is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From the 2017 revision to the 2023 revision, the guideline value increased from Rs 268 per sq.ft to Rs 400 per sq.ft. The most recent revision in 2024 further increased it to Rs 440 per sq.ft.

What is the land classification for New Star City?

The land classification for New Star City is Residential Class I Type - I.

What are the stamp duty and registration fees for a property in New Star City?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where is the Sub Registrar Office for New Star City located?

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