Guideline Value for SUN CITY PHASE-V

Sun City Phase-V guideline value

The current guideline value of Sun City Phase-V is Rs 950 per sq.ft, effective from 1 July 2024. This property is located in Sholavaram village under the Redhills SRO, classified as Residential Class IV Type - I.

How the guideline value of Sun City Phase-V has changed

The guideline value for Sun City Phase-V has remained consistent in the recent revisions. The 2023 revision also recorded the guideline value at Rs 950 per sq.ft. Prior to that, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

From 2023 to 2024, there was no change in the guideline value, maintaining the rate at Rs 950 per sq.ft. This consistency indicates stability in the valuation for this property over the last two years.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry 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 of Sun City Phase-V is above this median, reflecting its position in the local market.

• Sri Vinayaga Avenue: Rs 550 per sq.ft (2024)
• Sri Venkatesa Nagar: Rs 660 per sq.ft (2024)
• Sri Shanmuga Nagar: Rs 550 per sq.ft (2024)
• Sri Sai Ram Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sai Baba nagar: Rs 550 per sq.ft (2024)
• Thattara Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sun City Phase-V

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, leading to a total of Rs 85,500. Duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sun City Phase-V?

The Sub Registrar Office that covers Sun City Phase-V 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 during the registration process when buying or selling property in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that all transactions comply with the regulations set by the Registration Department. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Sun City Phase-V?

The current guideline value of Sun City Phase-V is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sun City Phase-V has remained at Rs 950 per sq.ft for the 2023 and 2024 revisions. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Sun City Phase-V?

Sun City Phase-V is classified as Residential Class IV Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty rates for property in Sun City Phase-V?

The stamp duty for property in Sun City Phase-V is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Sun City Phase-V?

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