Guideline Value for Reddiyar Street

Reddiyar Street guideline value

The current guideline value of Reddiyar Street in Sekkadu village, under the Avadi SRO, is Rs 1,075 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Reddiyar Street has changed

The guideline value for Reddiyar Street has undergone several revisions over the years. In 2012, the value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then rose again to Rs 1,075 per sq.ft in 2024, marking an 8% increase from the previous year. It is important to note that 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%, but the overall change from 2012 to 2024 shows an increase of 8%. The increase from 2017 to 2023 was notable at 49%, reflecting a significant adjustment in the guideline value during that period.

Guideline values in Sekkadu

In Sekkadu, there are 56 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 930 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, indicating that Reddiyar Street's 2024 figure is below this median.

• R.R.Nagar bharathiyar street: Rs 1,320 per sq.ft (2024)
• Sanjeevi Nagar: Rs 1,320 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Sekkadu Mettu Street I: Rs 1,320 per sq.ft (2024)
• Sekkadu Mettu Street II: Rs 930 per sq.ft (2024)
• Ponnambalam Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Reddiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,075 per sq.ft, the total guideline value amounts to Rs 10,75,000. The stamp duty at 7% would be Rs 75,250, and the registration fee at 2% would be Rs 21,500, bringing the total fees to Rs 96,750. 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 Reddiyar Street?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sekkadu. It serves as a benchmark 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 with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Reddiyar Street?

The current guideline value of Reddiyar Street is Rs 1,075 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 in 2012 to Rs 670 in 2017, then to Rs 1,000 in 2023, and finally to Rs 1,075 in 2024.

What is the land classification of Reddiyar Street?

Reddiyar Street is classified as Residential Class II Type - II.

Where is the Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Reddiyar Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 75,250.