Guideline Value for Kesava Reddy Street

Kesava Reddy Street guideline value

The current guideline value of Kesava Reddy Street in Nallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Kesava Reddy Street has changed

The guideline value for Kesava Reddy Street has undergone several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft. This increased to Rs 700 per sq.ft in the 2012 revision, followed by a decrease to Rs 469 per sq.ft in 2017. The 2023 revision raised it to Rs 700 per sq.ft, and the most recent 2024 revision set the value at Rs 770 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 93%. Notably, the jump from 2023 to 2024 represents a 10% increase, while the change from 2017 to 2023 shows a significant rise of 49%.

Guideline values in Nallur

Nallur village has a range of guideline values across its 39 streets under the Redhills SRO, with figures from Rs 440 to Rs 1,650 per sq.ft. The median guideline value in this area is Rs 550 per sq.ft, placing Kesava Reddy Street's 2024 figure above this median.

• kannanoorammal Koil Street: Rs 770 per sq.ft (2024)
• Kannanoorammal Koil 2nd Street: Rs 770 per sq.ft (2024)
• Kannanoorammal Koil 1st Street: Rs 770 per sq.ft (2024)
• Kannanoorambakkam 3rd Cross Street: Rs 770 per sq.ft (2024)
• Kannanoorambakkam 2nd Cross Street: Rs 770 per sq.ft (2024)
• Kannanoorambakkam 1st Cross Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Kesava Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kesava Reddy Street?

The Sub Registrar Office that covers Kesava Reddy Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nallur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of these values to ensure compliance with legal requirements during the registration process.

Additionally, the guideline value can influence negotiations between buyers and sellers. Understanding the guideline value helps both parties to set realistic expectations regarding the property's worth and the associated costs of registration.

Frequently asked questions

What is the current guideline value of Kesava Reddy Street?

The current guideline value of Kesava Reddy Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, marking an overall increase of 93% over the years.

What is the range of guideline values in Nallur?

The guideline values in Nallur range from Rs 440 to Rs 1,650 per sq.ft, with a median value of Rs 550 per sq.ft.

What are the stamp duty and registration fees for property in Kesava Reddy Street?

For a 1,000 sq.ft property, the total guideline value would be Rs 7,70,000, resulting in a stamp duty of Rs 53,900 and a registration fee of Rs 15,400, totaling Rs 69,300.

Which office handles the registration for Kesava Reddy Street?

The Redhills Sub Registrar Office handles the registration for Kesava Reddy Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.