Guideline Value for REDDYAR GARDEN

Reddyar Garden guideline value

The current guideline value of Reddyar Garden, located in Vilingiyambakkam village under the Avadi SRO, is Rs 935 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Reddyar Garden has changed

The guideline value for Reddyar Garden has seen several revisions over the years. In 2012, the guideline value was Rs 850 per sq.ft. This figure decreased to Rs 569 per sq.ft in 2017. However, the value increased significantly to Rs 850 per sq.ft in 2023 and further rose to Rs 935 per sq.ft in 2024. Notably, the register has no figures for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, which is equal to the guideline value of Reddyar Garden.

• Reddy Street: Rs 810 per sq.ft (2024)
• Roja St: Rs 935 per sq.ft (2024)
• Ramn St: Rs 810 per sq.ft (2024)
• R.R. Nagar: Rs 1,470 per sq.ft (2024)
• Sadiq Basha Street: Rs 935 per sq.ft (2024)
• Ramesh Nagar: Rs 1,105 per sq.ft (2024)

Stamp duty and registration fee for property in Reddyar Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, making the total cost for these fees Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Reddyar Garden?

The Sub Registrar Office that covers Reddyar Garden is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Vilingiyambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Reddyar Garden?

The current guideline value of Reddyar Garden is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then increased to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

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

Other streets in Vilingiyambakkam include Reddy Street at Rs 810 per sq.ft, Roja St at Rs 935 per sq.ft, Ramn St at Rs 810 per sq.ft, R.R. Nagar at Rs 1,470 per sq.ft, Sadiq Basha Street at Rs 935 per sq.ft, and Ramesh Nagar at Rs 1,105 per sq.ft.

What is the stamp duty rate for properties in Reddyar Garden?

The stamp duty rate for properties in Reddyar Garden is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Reddyar Garden?

The Sub Registrar Office for Reddyar Garden is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.