Guideline Value for Notrh Reddy street

Notrh Reddy street guideline value

The current guideline value of Notrh Reddy street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Notrh Reddy street has changed

Over the years, the guideline value for Notrh Reddy street has seen various revisions. The earliest recorded figure is from 2007, where the value was Rs 147 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, reflecting a rise of 580%. However, the value dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 1,000 per sq.ft from 2012 to 2023, and then it stayed the same at Rs 1,000 per sq.ft from 2023 to 2024, showing no change.

It is important to note that there are no recorded figures for Notrh Reddy street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 580%.

Guideline values in Uthiramerur

In Uthiramerur village, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 800 per sq.ft. Notrh Reddy street's 2024 guideline value is above this median.

• Nookkalamman Koil Street: Rs 600 per sq.ft (2024)
• New Vip Nagar: Rs 501 per sq.ft (2024)
• Ongoor: Rs 700 per sq.ft (2024)
• Neeradi West Street: Rs 700 per sq.ft (2024)
• Neeradi South Street: Rs 700 per sq.ft (2024)
• Neeradi East Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Notrh Reddy street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Notrh Reddy street?

The Sub Registrar Office that covers Notrh Reddy street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Uthiramerur. It is the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property in the area.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Notrh Reddy street?

The current guideline value for Notrh Reddy street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 147 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then dropped to Rs 670 per sq.ft in 2017, and remained at Rs 1,000 per sq.ft from 2012 to 2024.

What is the land classification for Notrh Reddy street?

Notrh Reddy street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Notrh Reddy street?

The Sub Registrar Office for Notrh Reddy street is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is the stamp duty calculated for property in Notrh Reddy street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000 at 7%.