Guideline Value for REDDY STREET

Reddy Street guideline value

The current guideline value of Reddy Street in Uthukottai village is Rs 750 per sq.ft, effective from 1 July 2024. This street falls under the Oothukkottai SRO and is classified as Commercial Class I Type - II.

How the guideline value of Reddy Street has changed

The guideline value of Reddy Street has seen several revisions over the years. In 2002, the guideline value was Rs 123 per sq.ft, which increased to Rs 134 per sq.ft in 2003. There is no figure available for the 2007 revision. The value then rose to Rs 750 per sq.ft in 2012, remained the same in 2023, and has been set at Rs 750 per sq.ft for the 2024 revision, reflecting no change from the previous year.

From 2012 to 2017, the guideline value decreased by 33% to Rs 502 per sq.ft. Following that, there was a significant increase of 49% from 2017 to 2023, bringing the value back to Rs 750 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 510%.

Guideline values in Uthukottai

In Uthukottai, there are 120 streets under the Oothukkottai SRO, with 2024 guideline values ranging from Rs 200 to Rs 1,000 per sq.ft. The median value for these streets is Rs 500 per sq.ft, indicating that Reddy Street's 2024 guideline value is above this median.

• Reddiar Burialground Road Upto Melcitrapakkam Annanagar Road: Rs 300 per sq.ft (2024)
• Reddiar Burialground Road: Rs 300 per sq.ft (2024)
• Roja Street: Rs 500 per sq.ft (2024)
• Rrr Avenue: Rs 400 per sq.ft (2024)
• Rajaji Street: Rs 500 per sq.ft (2024)
• Sathyavedu Road: Rs 750 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 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Reddy Street?

The Sub Registrar Office that covers Reddy Street is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Uthukottai. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it affects the overall transaction costs. Buyers should ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Reddy Street?

The current guideline value of Reddy Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 123 per sq.ft in 2002 to Rs 750 per sq.ft in 2024, with various revisions in between, including a drop in 2017 and a significant rise from 2017 to 2023.

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

Other streets in Uthukottai include Reddiar Burialground Road Upto Melcitrapakkam Annanagar Road at Rs 300 per sq.ft, Roja Street at Rs 500 per sq.ft, and Sathyavedu Road at Rs 750 per sq.ft, among others.

What is the stamp duty for a property on Reddy Street?

The stamp duty for a property on Reddy Street is calculated at 7% of the guideline value. For a 1,000 sq.ft plot valued at Rs 7,50,000, the stamp duty would be Rs 52,500.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.