Guideline Value for Gengu Reddy Road

Gengu Reddy Road guideline value

The current guideline value of Gengu Reddy Road is Rs 13,400 per sq.ft, effective from 1 July 2024. This road is located in Egmore village, which falls under the Periamet SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Gengu Reddy Road has changed

The guideline value register shows that there are no figures for Gengu Reddy Road in the revisions for the years 2023, 2017, 2012, 2007, 2003, and 2002. The only available figure is from the 2024 revision, which is Rs 13,400 per sq.ft.

Since there are no figures available for the previous revisions, it indicates that Gengu Reddy Road has not experienced any changes in guideline value prior to 2024. The current value represents a significant benchmark for property transactions in this area.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Gengu Reddy Road's 2024 value above this median.

• Gengu Reddy Street: Rs 8,300 per sq.ft (2024)
• Gengu Salai: Rs 6,300 per sq.ft (2024)
• Gengy Reddy lane: Rs 8,300 per sq.ft (2024)
• Gillcrist Avenue: Rs 13,400 per sq.ft (2024)
• Gengu Reddy 2nd Street, Lane: Rs 8,300 per sq.ft (2024)
• Gengu Reddy 1st Street, Lane: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Gengu Reddy Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value would be Rs 1,34,00,000. The stamp duty at 7% would amount to Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, making the total cost for these fees Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Gengu Reddy Road?

The Sub Registrar Office that covers Gengu Reddy Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For further details, you can find your SRO.

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

The guideline value is a crucial factor in property transactions as it determines the amount of stamp duty and registration fees that need to be paid. When buying or selling property, the guideline value is used to calculate these fees, ensuring that both parties are aware of the financial implications involved.

During the registration process, the guideline value serves as a benchmark for the property's value. It is essential for buyers and sellers to be informed about the current guideline value to avoid unexpected costs during the transaction.

Frequently asked questions

What is the current guideline value of Gengu Reddy Road?

The current guideline value of Gengu Reddy Road is Rs 13,400 per sq.ft, effective from 1 July 2024.

What are the previous guideline value revisions for Gengu Reddy Road?

The guideline value register shows no figures for Gengu Reddy Road in the revisions for the years 2023, 2017, 2012, 2007, 2003, and 2002. The only available figure is from the 2024 revision.

How does Gengu Reddy Road's guideline value compare to other streets in Egmore?

The guideline value of Gengu Reddy Road at Rs 13,400 per sq.ft is above the median value of Rs 7,100 per sq.ft for the 465 streets in Egmore under the Periamet SRO.

What are the stamp duty and registration fees for property on Gengu Reddy Road?

For a 1,000 sq.ft plot, the stamp duty would be Rs 9,38,000, and the registration fee would be Rs 2,68,000, totaling Rs 12,06,000. These fees are based on the guideline value.

Where is the Sub Registrar Office for Gengu Reddy Road located?

The Periamet Sub Registrar Office, which covers Gengu Reddy Road, is located at 1103, Poonamallee High Road, Chennai-600 003.