Guideline Value for REDDIAR STREET

Reddiar Street guideline value

The current guideline value of Reddiar Street in Koladi village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - III.

How the guideline value of Reddiar Street has changed

The guideline value for Reddiar Street has seen several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 600 per sq.ft. This value remained the same in the 2012 revision. However, in 2017, the guideline value decreased to Rs 402 per sq.ft, marking a significant drop of 33%. The value then increased to Rs 600 per sq.ft in the 2023 revision, followed by a further increase to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Reddiar Street's 2024 figure is below this median.

• Reddy Street: Rs 660 per sq.ft (2024)
• Ram Nagar Extension: Rs 1,650 per sq.ft (2024)
• Ramarajar Road: Rs 660 per sq.ft (2024)
• Ramadasar Road 2nd Cross Street: Rs 660 per sq.ft (2024)
• Ramadasar Road 1st Cross Street: Rs 660 per sq.ft (2024)
• Raju Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Reddiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. 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 Reddiar Street?

Reddiar Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Koladi, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Reddiar Street?

The current guideline value of Reddiar Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Reddiar Street?

Reddiar Street is classified as Residential Class II Type - III under the Chennai South Joint II SRO.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 6,60,000. The stamp duty is Rs 46,200, and the registration fee is Rs 13,200, making the total fees Rs 59,400.

Which Sub Registrar Office covers Reddiar Street?

The Chennai South Joint II Sub Registrar Office covers Reddiar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.