Guideline Value for Star City

Star City guideline value

The current guideline value of Star City, located in Vadamelpakkam village under the Gooduvancheri SRO, is Rs 350 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Star City has changed

The guideline value of Star City has experienced several revisions over the years. In 2007, the value was Rs 260 per sq.ft, which increased to Rs 350 per sq.ft in 2012. However, in 2017, it saw a decrease of 33% to Rs 234 per sq.ft. The value was revised again in 2023 and remained unchanged at Rs 350 per sq.ft, continuing into 2024.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 350 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 35%.

Guideline values in Vadamelpakkam

In Vadamelpakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 350 to Rs 1,000 per sq.ft. The median value for these streets is Rs 350 per sq.ft, which is equal to the guideline value of Star City.

• Sri Sai Nagar: Rs 350 per sq.ft (2024)
• Vasantham Nagar: Rs 350 per sq.ft (2024)
• Senthamil Nagar: Rs 350 per sq.ft (2024)
• Paradise City Extension: Rs 1,000 per sq.ft (2024)
• Paradise City: Rs 1,000 per sq.ft (2024)
• Mavsorva Garden: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Star City

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, while the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Star City?

The Sub Registrar Office that covers Star City is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vadamelpakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is assessed to calculate the fees, which can significantly impact the overall cost of the transaction. It is advisable for parties involved in a property transaction to be aware of the current guideline value to avoid any unexpected expenses.

Frequently asked questions

What is the current guideline value of Star City?

The current guideline value of Star City is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 350 per sq.ft. Notably, it was Rs 234 per sq.ft in 2017 and Rs 350 per sq.ft in 2012.

What is the land classification of Star City?

Star City is classified as Residential Special Type - I, indicating its designation for residential purposes within the local planning framework.

Where can I find the Sub Registrar Office for Star City?

The Gooduvancheri Sub Registrar Office covers Star City, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees when buying or selling property. It serves as a benchmark for these fees, ensuring that all transactions comply with local regulations.