Guideline Value for New Star City

New Star City guideline value

The current guideline value of New Star City in Vadaperumbakkam village is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Special Type - I.

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 most recent revision in 2024 set the value at Rs 1,000 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 670 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and there has been an overall increase of 49% from 2017 to 2024. The current value reflects no change from the previous year, maintaining the Rs 1,000 per sq.ft rate.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for New Star City is below this median.

• Om Kanniamman Nagar: Rs 1,000 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,004 per sq.ft (2024)
• Parvathipuram: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-I: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-II: Rs 1,003 per sq.ft (2024)
• Parvathipuram Part-IV: Rs 1,003 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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. 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 details.

Which Sub Registrar Office covers New Star City?

The New Star 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 Vadaperumbakkam

The guideline value is a crucial factor during the registration process when buying or selling property in Vadaperumbakkam. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must consider this value, as it affects the overall cost of the property transfer, including applicable taxes and fees.

Frequently asked questions

What is the current guideline value of New Star City?

The current guideline value of New Star City is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2024, representing a 49% increase over this period. There was no change from 2023 to 2024.

What are the guideline values of other streets in Vadaperumbakkam?

Other streets in Vadaperumbakkam have varying guideline values, with rates ranging from Rs 1,000 to Rs 1,004 per sq.ft in 2024. The median value for the area is Rs 1,003 per sq.ft.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 10,00,000, the total fees would amount to Rs 90,000.

Which office handles property registrations in New Star City?

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