Guideline Value for Redhills Road Fourth Street

Redhills Road Fourth Street guideline value

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

How the guideline value of Redhills Road Fourth Street has changed

The guideline value for Redhills Road Fourth 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 continued to grow, reaching Rs 800 per sq.ft in 2007, which was an increase of 83%. Following this, the value surged to Rs 3,500 per sq.ft in 2012, reflecting a substantial increase of 338%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and finally reached the current value of Rs 3,800 per sq.ft in 2024, representing a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 843%. There are no figures available for the revisions in the years not mentioned above for this street.

Guideline values in Konnur

In Konnur village, 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, with the median value being Rs 3,800 per sq.ft. The guideline value for Redhills Road Fourth Street aligns with this median.

• Redhills Road First Street: Rs 3,800 per sq.ft (2024)
• Redhills Road Fifth Street: Rs 3,800 per sq.ft (2024)
• Redhills Road ( Near Railway Gate): Rs 3,800 per sq.ft (2024)
• Redhills Road (Adjoining Main Bazaar Street): Rs 5,500 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 Fourth 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, and the registration fee at 2% would be Rs 76,000. 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Redhills Road Fourth Street?

The Redhills Road Fourth Street falls under the Konnur Sub Registrar Office located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of properties 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 when finalizing the sale price to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established guideline value.

Frequently asked questions

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

The current guideline value of Redhills Road Fourth 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 from Rs 403 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 843% over this period.

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

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for Redhills Road Fourth Street?

The Konnur Sub Registrar Office handles registrations for Redhills Road Fourth Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Redhills Road Fourth Street?

The land classification for Redhills Road Fourth Street is Residential Class II Type - I, indicating its suitability for residential development.