Guideline Value for StarCity

StarCity guideline value

The current guideline value of StarCity, located in Pammathukulam village under the Redhills SRO, is Rs 660 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of StarCity has changed

The guideline value for StarCity has seen significant changes over the years. The earliest recorded figure is from the 2017 revision, which was Rs 402 per sq.ft. This increased to Rs 600 per sq.ft in the 2023 revision, marking a 49% rise. The latest 2024 revision has set the guideline value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for StarCity is above this median.

• Sri Venugopal Nagar: Rs 660 per sq.ft (2024)
• Sri Sai Thirumal Nagar: Rs 660 per sq.ft (2024)
• Sun City: Rs 550 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 550 per sq.ft (2024)
• Sri Ponniamman Nagar: Rs 820 per sq.ft (2024)
• Sri Pathmavathi Nagar (S.No.603/1): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in StarCity

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost of these fees Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers StarCity?

The Sub Registrar Office that covers StarCity is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties. This ensures that the fees are aligned with the official valuation of the property, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value of StarCity?

The current guideline value of StarCity is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 402 per sq.ft in 2017 to Rs 660 per sq.ft in 2024, marking a total increase of 64% over these years.

What are the stamp duty and registration fees for property in StarCity?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office covers StarCity?

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

What is the land classification of StarCity?

StarCity falls under the Residential Class I Type - I land classification.