Guideline Value for Redhills Road First Street

Redhills Road First Street guideline value

The current guideline value of Redhills Road First Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under Residential Class II Type - I land classification.

How the guideline value of Redhills Road First Street has changed

The guideline value for Redhills Road First Street has seen significant changes over the years. In 2002, the guideline value was Rs 403 per sq.ft. This figure increased to Rs 437 per sq.ft in 2003, marking an 8% rise. The value then saw a substantial increase to Rs 800 per sq.ft in 2007, which was a remarkable 83% increase. From 2007 to 2012, the value rose further to Rs 3,500 per sq.ft, reflecting a 338% increase. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, showing a decline of 33%. The value then increased significantly again to Rs 3,500 per sq.ft in 2023, an increase of 49%, before reaching the current value of Rs 3,800 per sq.ft in 2024, which is a 9% increase.

There are no figures available for the years between these revisions for Redhills Road First Street in the register.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the current guideline value of Redhills Road First Street.

• Redhills Road Fifth Street: Rs 3,800 per sq.ft (2024)
• Redhills Road Fourth Street: Rs 3,800 per sq.ft (2024)
• Redhills Road (Adjoinging Main Bazaar Street(Door No.1 to 57 and 134 to 167): Rs 5,500 per sq.ft (2024)
• Redhills Road ( Near Railway Gate) Door No.58 to 85 and 168 to 195: Rs 3,800 per sq.ft (2024)
• Redhills Road other Parts: Rs 3,800 per sq.ft (2024)
• Redhills Road Second Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Redhills Road First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for these fees would be Rs 3,42,000. 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 precise calculations.

Which Sub Registrar Office covers Redhills Road First Street?

The Redhills Road First Street is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale or purchase of property.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that the transaction is recorded accurately and that the appropriate fees are paid to the government.

Frequently asked questions

What is the current guideline value of Redhills Road First Street?

The current guideline value of Redhills Road First Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 403 per sq.ft in 2002 and reaching Rs 3,800 per sq.ft in 2024, representing an overall increase of 843%.

What is the land classification for Redhills Road First Street?

Redhills Road First Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Redhills Road First Street located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.