Guideline Value for Reddy Kuppam Road

Reddy Kuppam Road guideline value

The current guideline value of Reddy Kuppam Road is Rs 4,900 per sq.ft, effective from 1 July 2024. This road is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Reddy Kuppam Road has changed

The guideline value for Reddy Kuppam Road has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, followed by a decrease to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 4,900 per sq.ft.

Between these revisions, notable changes include a 463% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is the same as the guideline value for Reddy Kuppam Road.

• R.C. Street: Rs 3,300 per sq.ft (2024)
• Reserve Bank Colony (Kamarajar Salai): Rs 5,500 per sq.ft (2024)
• Rathinam Street (JPT): Rs 4,900 per sq.ft (2024)
• Rathan Das Street: Rs 4,900 per sq.ft (2024)
• River Side Street (Atrankarai Street) (Chariman Vasudevan Nagar): Rs 4,900 per sq.ft (2024)
• River side Street (Parallel to Kasi Theatre Bridge): Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Reddy Kuppam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Reddy Kuppam Road?

The Sub Registrar Office covering Reddy Kuppam Road is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it's essential to be aware of the guideline value to avoid any legal issues during registration. Buyers should ensure that the sale price is at least equal to the guideline value to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Reddy Kuppam Road?

The current guideline value of Reddy Kuppam Road is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with various increments and decrements in between.

What is the land classification for Reddy Kuppam Road?

Reddy Kuppam Road is classified as Residential Class III Type - II.

Where can I find the Sub Registrar Office for Reddy Kuppam Road?

The Sub Registrar Office for Reddy Kuppam Road is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties on Reddy Kuppam Road?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 49,00,000, leading to a stamp duty of Rs 3,43,000.