Guideline Value for Sun City

Sun City guideline value

The current guideline value of Sun City, located in Allappakkam village under the Chengleput Joint I SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Sun City has changed

Over the years, the guideline value of Sun City has undergone several revisions. In 2007, the value was Rs 260 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, in 2017, it decreased to Rs 536 per sq.ft. The value remained stable at Rs 800 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial increase of 208%. The guideline value of Rs 800 per sq.ft in 2024 is consistent with the 2023 figure, showcasing stability in recent years.

Guideline values in Allappakkam

In Allappakkam, there are 51 streets under the Chengleput Joint I SRO, with 2024 guideline values ranging from Rs 600 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Sun City’s 2024 figure below that median.

• Star City Phase-V: Rs 1,102 per sq.ft (2024)
• Star City Phase-IV: Rs 1,102 per sq.ft (2024)
• Star City Phase-III: Rs 1,102 per sq.ft (2024)
• Star City Phase-II: Rs 1,102 per sq.ft (2024)
• Star City Phase-I: Rs 1,102 per sq.ft (2024)
• Sri Varalakshmi Nagar: Rs 800 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 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total charges to Rs 72,000. It is important to note that the 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?

The Sub Registrar Office that covers Sun City is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Allappakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sun City?

The current guideline value of Sun City is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 800 per sq.ft in both 2023 and 2024, while it was Rs 536 per sq.ft in 2017 and Rs 800 per sq.ft in 2012.

What is the land classification of Sun City?

Sun City is classified under Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Sun City?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 8,00,000, the total charges would be Rs 72,000.

Which office handles property registrations in Sun City?

The Chengleput Joint I Sub Registrar Office handles property registrations for Sun City, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.