Guideline Value for REDDY STREET IST STREET

Reddy Street Ist Street guideline value

The current guideline value of Reddy Street Ist Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Reddy Street Ist Street has changed

The guideline value for Reddy Street Ist Street has seen significant changes over the years. The earliest recorded figure is from 2002, at Rs 350 per sq.ft. This increased to Rs 404 per sq.ft in 2003, marking a 15% rise. The value then surged to Rs 1,000 per sq.ft in 2007, which was an increase of 148%. The 2012 revision saw the value stabilize at Rs 3,200 per sq.ft, reflecting a substantial 220% increase from the previous figure. In 2017, the guideline value changed to Rs 2,144 per sq.ft, a decrease of 33% from 2012. The value rose again to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 906%. There are no figures available for the revisions in years other than those specified.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value for Reddy Street Ist Street is below this median.

• Reddy Street 3rd Street: Rs 3,520 per sq.ft (2024)
• Reddy Street 2nd Street: Rs 3,520 per sq.ft (2024)
• Reddy Street: Rs 3,520 per sq.ft (2024)
• Sakthi Avenue: Rs 3,520 per sq.ft (2024)
• Saminathan Road: Rs 3,520 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 4,620 per sq.ft (2024)

Stamp duty and registration fee for property in Reddy Street Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Reddy Street Ist Street?

The Sub Registrar Office that covers Reddy Street Ist Street is the Chennai South Joint I 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the higher of the guideline value or the actual sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Reddy Street Ist Street?

The current guideline value of Reddy Street Ist Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 906% over the years.

What is the median guideline value in Ekkaduthangal?

The median guideline value in Ekkaduthangal is Rs 4,620 per sq.ft for the year 2024, with Reddy Street Ist Street's value being below this median.

What are the stamp duty and registration fees for Reddy Street Ist Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 35,20,000, resulting in a stamp duty of Rs 2,46,400 and a registration fee of Rs 70,400, totaling Rs 3,16,800.

Where can I find the Sub Registrar Office for Reddy Street Ist Street?

The Sub Registrar Office for Reddy Street Ist Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.