Guideline Value for Reddy Street

Reddy Street guideline value

The current guideline value of Reddy Street in Sriperumbudur A village, under the Sriperumpudur SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Reddy Street has changed

The guideline value for Reddy Street has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 value. The current 2024 revision maintains the value at Rs 1,000 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for Reddy Street for the years 2002, 2003, 2007, and 2012. Therefore, the changes between the revisions from 2017 to 2024 show a cumulative increase of 49% over this period.

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. The median value is Rs 700 per sq.ft, placing Reddy Street's 2024 figure above this median.

• Reddy Lane: Rs 1,100 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is important to note that the 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 Street?

The Sub Registrar Office that covers Reddy Street 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

The guideline value plays a crucial role in the registration process of property transactions in Sriperumbudur A. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the sale.

It is essential to understand that the guideline value is set by the government and is subject to periodic revisions. Buyers and sellers should stay informed about these changes to accurately assess the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Reddy Street?

The current guideline value of Reddy Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Reddy Street increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024, reflecting a 49% increase over this period.

What is the land classification of Reddy Street?

Reddy Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Reddy Street?

The Sub Registrar Office for Reddy Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Reddy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft would incur a total stamp duty of Rs 70,000.