Guideline Value for SUN CITY

Sun City guideline value

The current guideline value of Sun City, located in Atthivakkam village under the Redhills SRO, is Rs 1,045 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sun City has changed

According to the guideline value register, the revisions for Sun City began with no figures available for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 950 per sq.ft, which was then increased by 10% to Rs 1,045 per sq.ft in the 2024 revision.

This increase reflects a notable change in the guideline value, moving from Rs 950 in 2023 to Rs 1,045 in 2024. The current figure is higher than the previous year's value, indicating a significant adjustment in the valuation for this street.

Guideline values in Atthivakkam

Atthivakkam has a range of guideline values across its 27 streets under the Redhills SRO, with the 2024 figures ranging from Rs 275 to Rs 1,400 per sq.ft. The median guideline value in this village is Rs 440 per sq.ft, placing Sun City's 2024 figure above that median.

• Sri Sathiya Narayana Garden: Rs 275 per sq.ft (2024)
• Thirupathi Nagar: Rs 275 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 330 per sq.ft (2024)
• Sri Bala Vinayaga Nagar: Rs 330 per sq.ft (2024)
• Venkateswara Nagar: Rs 330 per sq.ft (2024)
• Sapthar Hasmi Nagar 2 nd Part: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sun City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,045 per sq.ft, the total guideline value amounts to Rs 10,45,000. The stamp duty at 7% would be Rs 73,150, and the registration fee at 2% would be Rs 20,900, bringing the total cost for these fees to Rs 94,050. 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 based on your property details.

Which Sub Registrar Office covers Sun City?

The Sub Registrar Office covering Sun City is the Redhills Sub Registrar Office. The address is 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 Atthivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Atthivakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value as per the local regulations. This value is periodically revised to reflect changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Sun City?

The current guideline value of Sun City is Rs 1,045 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 950 per sq.ft in 2023 to Rs 1,045 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Sun City?

Sun City is classified as Residential Special Type - II under the land classification system.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Sun City?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.