Guideline Value for ReddiyarPalayam 1st street

ReddiyarPalayam 1st street guideline value

The current guideline value of ReddiyarPalayam 1st street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of ReddiyarPalayam 1st street has changed

The guideline value for ReddiyarPalayam 1st street has seen significant changes over the years. In 2007, the guideline value was Rs 750 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012. However, this value saw a decrease to Rs 2,680 per sq.ft in 2017. Following that, the value rose to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The most remarkable change occurred between 2007 and 2012, with an increase of 433%. Overall, from 2007 to 2024, the guideline value has increased by 487%.

Guideline values in Tambaram

Tambaram village has 360 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in the village is Rs 3,300 per sq.ft, making the current value of ReddiyarPalayam 1st street above this median.

• Reddiyar Palayam 2nd street: Rs 3,300 per sq.ft (2024)
• Reddy Street: Rs 3,300 per sq.ft (2024)
• Ranjeetham Nagar yovel Solomon Street: Rs 1,320 per sq.ft (2024)
• Ranganathapuram 7th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 6th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in ReddiyarPalayam 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers ReddiyarPalayam 1st street?

The Sub Registrar Office that covers ReddiyarPalayam 1st street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value recognized by the government.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the latest guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of ReddiyarPalayam 1st street?

The current guideline value of ReddiyarPalayam 1st street is Rs 4,400 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 750 per sq.ft in 2007 and reaching Rs 4,400 per sq.ft in 2024. There have been various increases and decreases across different revisions, with the most notable increase being 433% from 2007 to 2012.

What is the land classification for ReddiyarPalayam 1st street?

ReddiyarPalayam 1st street is classified as Residential Special Type - II. This classification can impact the types of developments allowed in the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at the current guideline value of Rs 4,400 per sq.ft, the stamp duty is 7% and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total cost of Rs 3,96,000 in fees.

Where can I find the Sub Registrar Office for ReddiyarPalayam 1st street?

The Sub Registrar Office for ReddiyarPalayam 1st street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information through the provided link.