Guideline Value for Reddy Street Cross Street (Ward 30)

Reddy Street Cross Street (Ward 30) guideline value

The current guideline value of Reddy Street Cross Street (Ward 30) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Reddy Street Cross Street (Ward 30) has changed

The guideline value for Reddy Street Cross Street has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 1,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Reddy Street Cross Street.

• Reddy Street Extention (Ward 30): Rs 1,600 per sq.ft (2024)
• Reddy St (Ward-30): Rs 1,600 per sq.ft (2024)
• Red Hills Road / P.R.H. Road: Rs 3,300 per sq.ft (2024)
• Red Hills Road (Vinayagapuram): Rs 3,300 per sq.ft (2024)
• Redhills Road, Vinayagapuram (Ward-29): Rs 3,300 per sq.ft (2024)
• RC Queens Park,182E,MRH Road (Ward-18): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Reddy Street Cross Street (Ward 30)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Reddy Street Cross Street (Ward 30)?

The Sub Registrar Office that covers Reddy Street Cross Street (Ward 30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value to estimate the total costs involved accurately. This ensures that buyers and sellers are prepared for the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Reddy Street Cross Street (Ward 30)?

The current guideline value of Reddy Street Cross Street (Ward 30) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, and then increased to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from 2023.

What is the land classification for Reddy Street Cross Street?

Reddy Street Cross Street is classified as Residential Class II Type - I under the Madhavaram SRO.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000. The stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Reddy Street Cross Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Reddy Street Cross Street (Ward 30).