Guideline Value for North Redhills Road

North Redhills Road guideline value

The current guideline value of North Redhills Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of North Redhills Road has changed

The guideline value for North Redhills Road has seen several revisions over the years. In 2002, the value was Rs 411 per sq.ft, which increased to Rs 446 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 800 per sq.ft in 2007, an increase of +79%. Following this, the value surged to Rs 5,000 per sq.ft in 2012, reflecting a remarkable increase of +525%. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of -33%. The value then increased to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 5,500 per sq.ft, a change of +10%.

There are no figures available for the years not mentioned in the register for North Redhills Road. Overall, from 2002 to 2024, the guideline value has increased by +1238%.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for North Redhills Road is above this median.

• North Madaveethi: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Third Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Second Cross Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar I Cross Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar First Prathna Salai: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in North Redhills Road

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers North Redhills Road?

The Sub Registrar Office that covers North Redhills Road is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for additional information.

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

The guideline value is an essential factor in the registration process of property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is in accordance with the legal requirements. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of North Redhills Road?

The current guideline value of North Redhills Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 411 per sq.ft in 2002 and reaching Rs 5,500 per sq.ft in 2024. The most notable changes occurred between 2007 and 2012, and from 2017 to 2023.

What is the classification of land on North Redhills Road?

The land classification for North Redhills Road is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is essential to consider both when planning a property transaction in Konnur.