Guideline Value for STAR RESIDENCY

Star Residency guideline value

The current guideline value of Star Residency in Gooduvancheri village is Rs 1,200 per sq.ft, effective from 1 July 2024. This property falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Star Residency has changed

The guideline value for Star Residency has remained consistent at Rs 1,200 per sq.ft from the 2023 revision to the 2024 revision. Prior to this, the 2017 revision set the value at Rs 804 per sq.ft, marking a significant increase of 49% over the six-year period.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from the 2017 revision to the current 2024 revision, there has been a total increase of 49% in the guideline value.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Star Residency is below this median.

• Sri Venkateswara nagar: Rs 1,500 per sq.ft (2024)
• Swaminathanaicken Street: Rs 2,001 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 1,200 per sq.ft (2024)
• Sri Sai Avenue: Rs 1,000 per sq.ft (2024)
• Sriram Nagar: Rs 1,200 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Star Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value is Rs 12,00,000. The stamp duty at 7% amounts to Rs 84,000, and the registration fee at 2% totals Rs 24,000, bringing the total charges to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Star Residency?

The Sub Registrar Office that covers Star Residency is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Gooduvancheri

The guideline value plays a crucial role during property transactions in Gooduvancheri. It is used to determine the stamp duty and registration fees applicable when buying or selling property, ensuring that these fees are calculated based on a standardized value set by the government.

When registering a property, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Star Residency?

The current guideline value of Star Residency is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 804 per sq.ft in 2017 to the current value.

What is the land classification of Star Residency?

Star Residency is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Star Residency?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total stamp duty of Rs 84,000.