Guideline Value for SUN CITY PHASE 1

Sun City Phase 1 guideline value

The current guideline value of Sun City Phase 1 is Rs 226 per sq.ft, effective from 1 July 2024. This property is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class II Type - I.

How the guideline value of Sun City Phase 1 has changed

The guideline value for Sun City Phase 1 has undergone several revisions since 2012. In 2012, the guideline value was Rs 225 per sq.ft, which saw a decrease to Rs 151 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 226 per sq.ft, a figure that remained unchanged in the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable, with no net change.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Sun City Phase 1 is below this median.

• Sv Nagar, Gangaiamman Nagar: Rs 226 per sq.ft (2024)
• Sri Vigneshwara Nagar: Rs 226 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 226 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 226 per sq.ft (2024)
• Thangam Nagar: Rs 250 per sq.ft (2024)
• Thangavel Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sun City Phase 1

For a 1,000 sq.ft plot at the current guideline value of Rs 226 per sq.ft, the total guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, and the registration fee at 2% would be Rs 4,520, leading to a total of Rs 20,340. 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 precise calculations.

Which Sub Registrar Office covers Sun City Phase 1?

Sun City Phase 1 falls under the jurisdiction of the Manavalanagar Sub Registrar Office. The address is Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

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

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sun City Phase 1?

The current guideline value of Sun City Phase 1 is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023 and remained the same in 2024.

What are the guideline values for other streets in Kizhnallathur & Melnallathur?

Other streets in Kizhnallathur & Melnallathur have guideline values ranging from Rs 226 to Rs 250 per sq.ft. The median value for these streets is Rs 250 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 2,26,000, the stamp duty would be Rs 15,820 and the registration fee would be Rs 4,520, totaling Rs 20,340.

Which office handles property registration for Sun City Phase 1?

The Manavalanagar Sub Registrar Office handles property registration for Sun City Phase 1, located on Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.