Guideline Value for Sun City

Sun City guideline value

The current guideline value for Sun City, located in Kiliyanagar village, is Rs 100 per sq.ft, effective from the 2024 revision. This falls under the Residential Class I Type - I land classification and is managed by the Madurandakam SRO.

How the guideline value of Sun City has changed

The guideline value for Sun City has seen several revisions over the years. The 2007 revision set the value at Rs 30 per sq.ft, which increased to Rs 50 per sq.ft in 2012, marking a 67% increase. However, this value decreased by 34% to Rs 33 per sq.ft in the 2017 revision. The most significant change occurred from 2017 to 2023, where the value surged by 203% back to Rs 100 per sq.ft, which remained unchanged in the 2024 revision.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 233%.

Guideline values in Kiliyanagar

In Kiliyanagar, four streets fall under the Madurandakam SRO with a guideline value for 2024 ranging from Rs 100 to Rs 103 per sq.ft. The guideline value for Sun City aligns with the median of Rs 100 per sq.ft among these streets.

• Sri Balaji Nagar - II: Rs 100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 100 per sq.ft (2024)
• Vasantham Nagar: Rs 103 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty is charged at 7%, which totals Rs 7,000, and the registration fee at 2% amounts to Rs 2,000. Therefore, the combined cost for stamp duty and registration fee is Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sun City?

The Sub Registrar Office that covers Sun City is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kiliyanagar. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Sun City?

The current guideline value for Sun City is Rs 100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, reflecting an overall increase of 233% since 2007.

What is the land classification for Sun City?

Sun City is classified as Residential Class I Type - I, indicating its designation for residential use.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sun City?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 100 per sq.ft, the stamp duty would be Rs 7,000.