Guideline Value for Reddy Street (Sidco Estate Residential Area)

Reddy Street (Sidco Estate Residential Area) guideline value

The current guideline value for Reddy Street (Sidco Estate Residential Area) is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Alandur Guindy village and falls under the Alandur SRO. The land classification for this area is Industries Special Type - II.

How the guideline value of Reddy Street (Sidco Estate Residential Area) has changed

The guideline value for Reddy Street has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 4,690 per sq.ft. This increased to Rs 7,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Alandur Guindy

Alandur Guindy has a range of guideline values for its streets, with the 2024 figures varying from Rs 3,900 to Rs 11,200 per sq.ft. The median guideline value for the area is Rs 8,550 per sq.ft, placing Reddy Street's 2024 figure below this median.

• SIDCO Thiru Vi Ka Industrial Estate: Rs 9,400 per sq.ft (2024)
• Parthasarathy Mandapam Lane: Rs 3,900 per sq.ft (2024)
• Parthasarathy Koil Street (Sidco Estate Residential Area): Rs 3,900 per sq.ft (2024)
• Vgn Fairmont: Rs 9,500 per sq.ft (2024)
• Labour Colony (Sidco Estate Residential Area): Rs 3,900 per sq.ft (2024)
• 100 Feet Road/ Inner Ring Road/ Jawaralal: Rs 11,200 per sq.ft (2024)

Stamp duty and registration fee for property in Reddy Street (Sidco Estate Residential Area)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Reddy Street (Sidco Estate Residential Area)?

The Sub Registrar Office that covers Reddy Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Alandur Guindy. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with registration. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any potential issues during the registration process.

Frequently asked questions

What is the current guideline value for Reddy Street (Sidco Estate Residential Area)?

The current guideline value for Reddy Street (Sidco Estate Residential Area) is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,690 per sq.ft in 2017 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Reddy Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers Reddy Street?

The Alandur Sub Registrar Office covers Reddy Street (Sidco Estate Residential Area), located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Reddy Street?

The land classification for Reddy Street (Sidco Estate Residential Area) is Industries Special Type - II.