Guideline Value for Chinna Reddy Street

Chinna Reddy Street guideline value

The current guideline value of Chinna Reddy Street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - II.

How the guideline value of Chinna Reddy Street has changed

The guideline value for Chinna Reddy Street has seen several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,000 per sq.ft in 2007, and then to Rs 5,800 per sq.ft in 2012. However, there was a decrease to Rs 3,886 per sq.ft in 2017. The value then increased to Rs 5,800 per sq.ft in 2023 before reaching the current figure of Rs 6,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 948%. Notably, there are no figures available for the revisions in the years not listed above.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Chinna Reddy Street's 2024 figure below this median.

• Chetpet Railway StationColony: Rs 3,400 per sq.ft (2024)
• Charurbujadoss Road: Rs 11,000 per sq.ft (2024)
• Chari Street: Rs 8,300 per sq.ft (2024)
• Club road: Rs 13,400 per sq.ft (2024)
• Chandira banu street: Rs 10,100 per sq.ft (2024)
• Chamundeswari kovil 5th street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, resulting in a total of Rs 5,67,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinna Reddy Street?

The Sub Registrar Office that covers Chinna Reddy Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to assess the applicable duties. This ensures that the registration process is standardized and transparent.

Frequently asked questions

What is the current guideline value of Chinna Reddy Street?

The current guideline value of Chinna Reddy Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 601 in 2002 to Rs 6,300 in 2024, reflecting an overall increase of 948% over this period.

What is the land classification of Chinna Reddy Street?

Chinna Reddy Street is classified as Residential Class II Type - II.

Where is the Sub Registrar Office for Chinna Reddy Street located?

The Sub Registrar Office for Chinna Reddy Street is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Chinna Reddy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000.