Guideline Value for New Sun City

New Sun City guideline value

The current guideline value of New Sun 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 Sun City has changed

The guideline value for New Sun City has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012, marking a significant rise of 150%. However, this value dropped to Rs 335 per sq.ft in 2017, a decrease of 33%. The following revision in 2023 brought the value up to Rs 500 per sq.ft, and the latest revision in 2024 set it at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value for New Sun City is below this median.

• New Sun City Annex: Rs 1,005 per sq.ft (2024)
• New Sun City Annexe-II: Rs 1,005 per sq.ft (2024)
• New Sun City Annexe-III: Rs 1,005 per sq.ft (2024)
• New Sun City Elite: Rs 1,650 per sq.ft (2024)
• New Sun City Phase - I: Rs 550 per sq.ft (2024)
• New Sun City Phase - IV: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in New Sun City

For a 1,000 sq.ft plot at the current guideline value, 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.

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

Which Sub Registrar Office covers New Sun City?

The Sub Registrar Office covering New Sun 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 Sholavaram

The guideline value is a critical factor when registering property transactions in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a buyer or seller engages in a property transaction, the guideline value ensures that the property is valued appropriately for taxation purposes, thus facilitating a fair and transparent registration process.

Frequently asked questions

What is the current guideline value of New Sun City?

The current guideline value of New Sun 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 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the registration office for New Sun City?

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

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 49,500 in fees.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.