Guideline Value for Red Hills road

Red Hills road guideline value

The current guideline value of Red Hills road in Kolathur village is Rs 5,500 per sq.ft, effective from 1 July 2024. This property falls under the Sembiam Sub Registrar Office and is classified as Commercial Class I Type - I.

How the guideline value of Red Hills road has changed

The guideline value for Red Hills road has undergone several revisions since 2002. In 2002, the guideline value was Rs 329 per sq.ft, which increased to Rs 356 per sq.ft in 2003, marking an increase of 8%. The value saw a significant jump to Rs 1,200 per sq.ft in 2007, representing a 237% rise. By 2012, the value remained at Rs 5,000 per sq.ft, showing no change from the previous revision. In 2023, the value was again Rs 5,000 per sq.ft, and in 2024, it rose to Rs 5,500 per sq.ft, reflecting a 10% increase.

It is important to note that there is no guideline value figure available for the year 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,572%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Red Hills road is above this median.

• R.K.R. Nagar: Rs 2,200 per sq.ft (2024)
• R.K. Sindicate Nagar: Rs 2,700 per sq.ft (2024)
• Rangadoss Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Ramdoss Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Red Hills road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Red Hills road?

The Sub Registrar Office covering Red Hills road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is documented at a fair value.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Red Hills road?

The current guideline value of Red Hills road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 329 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 1,572%.

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

Other streets in Kolathur include R.K.R. Nagar at Rs 2,200 per sq.ft, R.K. Sindicate Nagar at Rs 2,700 per sq.ft, and several others ranging from Rs 2,200 to Rs 2,700 per sq.ft.

How is stamp duty calculated for property in Red Hills road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000.

Where is the Sub Registrar Office for Red Hills road located?

The Sub Registrar Office for Red Hills road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.