Guideline Value for Redhills Cross Street

Redhills Cross Street guideline value

The current guideline value of Redhills Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Redhills Cross Street has changed

The guideline value for Redhills Cross Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in the 2012 revision. However, this value saw a decrease of 33% to Rs 1,474 per sq.ft in the 2017 revision. The 2023 revision brought it back up to Rs 2,200 per sq.ft, and the most recent 2024 revision set the value at Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 300%. It is important to note that there are no figures available for Redhills Cross Street in the 2002 and 2003 revisions.

Guideline values in Oragadam

Within Oragadam village, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Redhills Cross Street is above this median.

• Red hills Road: Rs 3,500 per sq.ft (2024)
• Ruban Street (Pudur): Rs 1,900 per sq.ft (2024)
• Rambharathi Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Ramasamy Street.DR (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Ramasamy (Pillai) Street (S.No.61,62,71,72): Rs 1,600 per sq.ft (2024)
• Saint Thamas Street (A.K.A.Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Redhills Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. 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 Redhills Cross Street?

The Sub Registrar Office that covers Redhills Cross Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Oragadam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the higher of the guideline value or the sale price is used to determine the applicable fees. This means that buyers should be aware of the guideline value to understand the potential costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Redhills Cross Street?

The current guideline value of Redhills Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers Redhills Cross Street?

The Ambattur Sub Registrar Office covers Redhills Cross Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

What is the land classification for Redhills Cross Street?

Redhills Cross Street is classified as Residential Special Type - I according to the guideline value register.