Guideline Value for REDDIYAMBAKKAM MAIN ROAD

Reddiyambakkam Main Road guideline value

The current guideline value of Reddiyambakkam Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road is located in Ottiyampakkam village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Reddiyambakkam Main Road has changed

The guideline value for Reddiyambakkam Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 1,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,650 per sq.ft, reflecting a 10% increase.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with a median value of Rs 1,950 per sq.ft. The guideline value of Reddiyambakkam Main Road is below this median.

• Ramakrishnan Street: Rs 1,950 per sq.ft (2024)
• Sai Nagar: Rs 2,200 per sq.ft (2024)
• Rajendra Prasad Street: Rs 1,950 per sq.ft (2024)
• Rajendra Prasad: Rs 1,950 per sq.ft (2024)
• Sathiya Gardens: Rs 4,300 per sq.ft (2024)
• Project Aran: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Reddiyambakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. 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 Reddiyambakkam Main Road?

The Sub Registrar Office that covers Reddiyambakkam Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Ottiyampakkam. It is used to determine the stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value can differ from the actual sale price, and the higher amount will be used for calculating duties.

When a property is sold, the guideline value ensures that the government receives the appropriate taxes based on the value of the property. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Reddiyambakkam Main Road?

The current guideline value of Reddiyambakkam Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 increasing it to Rs 1,650 per sq.ft from Rs 1,500 per sq.ft in 2023. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What are the other streets in Ottiyampakkam with their guideline values?

Other streets in Ottiyampakkam include Ramakrishnan Street at Rs 1,950 per sq.ft, Sai Nagar at Rs 2,200 per sq.ft, and Sathiya Gardens at Rs 4,300 per sq.ft, among others.

What are the stamp duty and registration fees for property in Reddiyambakkam Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, leading to a stamp duty of Rs 1,15,500 and a registration fee of Rs 33,000, totaling Rs 1,48,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.