Guideline Value for Red hills Road

Red hills Road guideline value

The current guideline value of Red hills Road in Oragadam village, under the Ambattur SRO, is Rs 3,500 per sq.ft, effective from 1 July 2024. This classification falls under Commercial Class I Type - I.

How the guideline value of Red hills Road has changed

The guideline value of Red hills Road has seen significant changes over the years. In 2002, the value was Rs 210 per sq.ft, which increased to Rs 226 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,000 per sq.ft in 2007, marking an increase of 342%. The value then saw a substantial jump to Rs 3,200 per sq.ft in 2012, reflecting a growth of 220%. However, it decreased to Rs 2,144 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 3,200 per sq.ft in 2023, before reaching the current value of Rs 3,500 per sq.ft in 2024, which is a 9% increase from the previous year.

There are no figures available for the revisions in the years not mentioned. Overall, from 2002 to 2024, the guideline value has increased by 1567%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Red hills Road's current guideline value of Rs 3,500 per sq.ft is above this median.

• Redhills Cross Street: Rs 2,400 per sq.ft (2024)
• Ruban Street (Pudur): Rs 1,900 per sq.ft (2024)
• Rambharathi Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Ramasamy Street.DR (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Ramasamy (Pillai) Street (S.No.61,62,71,72): Rs 1,600 per sq.ft (2024)
• Saint Thamas Street (A.K.A.Nagar): Rs 1,600 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 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Red hills Road?

The Sub Registrar Office that covers Red hills Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Oragadam. It serves as the basis for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, 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 Red hills Road?

The current guideline value of Red hills Road is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 210 per sq.ft in 2002 and reaching Rs 3,500 per sq.ft in 2024, which represents an overall increase of 1567% from 2002 to 2024.

What is the land classification for Red hills Road?

Red hills Road is classified under Commercial Class I Type - I, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for a property in Red hills Road?

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000, and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Where is the Sub Registrar Office for Red hills Road located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.