Guideline Value for RED HILLS ROAD (KALLIKUPPAM)

Red Hills Road (Kallikuppam) guideline value

The current guideline value for Red Hills Road (Kallikuppam) is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, which falls under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Red Hills Road (Kallikuppam) has changed

The guideline value for Red Hills Road (Kallikuppam) has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 375 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a substantial rise of 620%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,900 per sq.ft, which represents an increase of 60% from the previous figure in 2017.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2023 for Red Hills Road (Kallikuppam). Overall, from 2007 to 2024, the guideline value has increased by 673%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Red Hills Road (Kallikuppam) above this median with its current value of Rs 2,900 per sq.ft.

• Reshma Garden: Rs 1,300 per sq.ft (2024)
• Ring Road: Rs 5,500 per sq.ft (2024)
• R.K.Dhatchan Nagar: Rs 1,600 per sq.ft (2024)
• R.K.Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• R.K.NAGAR (Near Santhosh Nagar): Rs 2,100 per sq.ft (2024)
• Rathinam Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Red Hills Road (Kallikuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, while the registration fee at 2% would be Rs 58,000. Together, the total cost for stamp duty and registration would be Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Red Hills Road (Kallikuppam)?

The Sub Registrar Office that covers Red Hills Road (Kallikuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the sale. It is essential to refer to the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value for Red Hills Road (Kallikuppam)?

The current guideline value for Red Hills Road (Kallikuppam) is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 375 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, which is a total increase of 673% over the years.

What is the land classification for Red Hills Road (Kallikuppam)?

The land classification for Red Hills Road (Kallikuppam) is Residential Class II Type - II, indicating its suitability for residential development.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for property transactions in Korattur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 29,00,000, the stamp duty would be calculated at 7% of this amount.