Guideline Value for Reddy Lane

Reddy Lane guideline value

The current guideline value of Reddy Lane in Sriperumbudur A village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class I Type - II.

How the guideline value of Reddy Lane has changed

The guideline value for Reddy Lane has seen significant changes over the years. The register shows that the 2017 revision set the value at Rs 737 per sq.ft, which remained unchanged at Rs 1,100 per sq.ft in the 2023 revision. The latest 2024 revision also maintains this figure, indicating a 0% change from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has increased by 49%.

It is important to note that there are no figures available for Reddy Lane in the revisions from 2002, 2003, 2007, and 2012. The consistent value of Rs 1,100 per sq.ft in the last two revisions reflects stability in the pricing for this street.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. Reddy Lane's guideline value of Rs 1,100 per sq.ft is above this median.

• Reddy Street: Rs 1,000 per sq.ft (2024)
• Reddy Street Extn: Rs 1,100 per sq.ft (2024)
• Ranka Nagar: Rs 1,000 per sq.ft (2024)
• Roni Avenue: Rs 700 per sq.ft (2024)
• Rotarypuram: Rs 400 per sq.ft (2024)
• Ramanujar V th Cross Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Reddy Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost of duty and fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Reddy Lane?

The Sub Registrar Office that covers Reddy Lane is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Sriperumbudur A, the guideline value is a critical factor in determining the stamp duty and registration fees. This value is used to calculate the total costs associated with the transaction, ensuring that both the buyer and seller are aware of the financial implications.

The guideline value serves as a benchmark for property transactions, helping to standardize the rates across different areas within Sriperumbudur A. This ensures transparency in property dealings and aids in the assessment of property taxes.

Frequently asked questions

What is the current guideline value of Reddy Lane?

The current guideline value of Reddy Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Reddy Lane has increased from Rs 737 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting a 49% increase over this period.

What are the stamp duty rates for properties in Reddy Lane?

The stamp duty for properties in Reddy Lane is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Which office handles the registration for Reddy Lane?

The registration for properties in Reddy Lane is handled by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification for Reddy Lane?

Reddy Lane is classified as Residential Class I Type - II, indicating its suitability for residential development.