Guideline Value

Corporate

Guideline Value for New Star City

₹550/sq.ft.

The guideline value for New Star City in Vadakarai 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 Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Vadakarai

Village

Redhills

SRO

Residential Class II 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 ₹300 /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

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New Star City guideline value

The current guideline value for New Star City in Vadakarai village, under the Redhills SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of New Star City has changed

The guideline value for New Star City has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 300 per sq.ft. This increased to Rs 500 per sq.ft in 2012, a rise of 67%. However, from 2012 to 2017, the value decreased by 33% to Rs 335 per sq.ft. The guideline value then rose significantly by 49% to Rs 500 per sq.ft in 2023, followed by a further increase of 10% to the current value of Rs 550 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Vadakarai

In Vadakarai, there are 15 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for New Star City is below this median.

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 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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 Vadakarai

The guideline value is a crucial factor in the registration process for property transactions in Vadakarai. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

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

Frequently asked questions

What is the current guideline value of New Star City?

The current guideline value of New Star 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 changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 83% over the years.

What are the stamp duty rates for properties in New Star City?

The stamp duty for properties in New Star City is charged at 7% on the guideline value or sale price, whichever is higher.

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

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

What other streets have guideline values in Vadakarai?

Other streets in Vadakarai include New Star City 1, New Star City II, New Sun City, Madhavaram Redhills High Road, School Street, and Sri Devi Karumari Amman Nagar, with values ranging from Rs 440 to Rs 1,100 per sq.ft in 2024.