Guideline Value for REDDY KUPPAM ROAD

Reddy Kuppam Road guideline value

The current guideline value of Reddy Kuppam Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Reddy Kuppam Road has changed

The guideline value for Reddy Kuppam Road has undergone several revisions over the years. In 2002, the value was Rs 1,499 per sq.ft, which increased to Rs 1,663 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 2,471 per sq.ft in 2007, a significant jump of 49%. By 2012, the guideline value was Rs 7,000 per sq.ft, which was a decrease of 33% from the previous revision. However, in 2017, the value surged to Rs 4,690 per sq.ft, showing a remarkable increase of 49%.

In 2023, the guideline value was set at Rs 7,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 7,700 per sq.ft, reflecting a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 414%. There are no figures available for any other years for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, making the 2024 guideline value of Reddy Kuppam Road above this median.

• Sadayappa Mudali Lane: Rs 5,000 per sq.ft (2024)
• Sadayappa Mudali Street: Rs 5,500 per sq.ft (2024)
• Saibaba Lane Western Side Of Old Mambalam Road: Rs 4,400 per sq.ft (2024)
• Ramakrishnapuram 3 Street: Rs 5,500 per sq.ft (2024)
• Ramaiah Street: Rs 6,600 per sq.ft (2024)
• Sambangi Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Reddy Kuppam Road

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Reddy Kuppam Road?

The Sub Registrar Office that covers Reddy Kuppam Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

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

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Reddy Kuppam Road?

The current guideline value of Reddy Kuppam Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,499 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 414%.

What is the land classification for Reddy Kuppam Road?

Reddy Kuppam Road is classified as Residential Class I Type - II.

Where is the Sub Registrar Office located for Reddy Kuppam Road?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 and a registration fee of Rs 1,54,000.