Guideline Value for REDDY STREET

Reddy Street guideline value

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

How the guideline value of Reddy Street has changed

The guideline value for Reddy Street has seen several revisions over the years. In 2002, the value was Rs 350 per sq.ft, which increased to Rs 404 per sq.ft in 2003, marking a 15% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a 148% increase. Following this, the value jumped to Rs 3,200 per sq.ft in 2012, which was a substantial 220% increase. However, between 2012 and 2017, the value decreased to Rs 2,144 per sq.ft, showing a decline of 33%. The value then increased to Rs 3,200 per sq.ft in 2023, and most recently, it has risen to Rs 3,520 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 906%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 4,620 per sq.ft, placing Reddy Street's 2024 figure below that median.

• Reddy Street 2nd Street: Rs 3,520 per sq.ft (2024)
• Reddy Street 3rd Street: Rs 3,520 per sq.ft (2024)
• Reddy Street Ist 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total costs together 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Reddy Street?

The Sub Registrar Office that covers Reddy 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and transparently, reflecting the official value set by the authorities.

Frequently asked questions

What is the current guideline value of Reddy Street?

The current guideline value of Reddy 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 from Rs 350 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 906% over this period.

What is the median guideline value for streets in Ekkaduthangal?

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

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

For a 1,000 sq.ft plot, the total guideline value would be Rs 35,20,000, with stamp duty at Rs 2,46,400 and registration fees at Rs 70,400, totaling Rs 3,16,800.

Which office handles registrations for Reddy Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Reddy Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.