Guideline Value for Redhills Road

Redhills Road guideline value

The current guideline value of Redhills Road, located in Ambattur village under the Ambattur SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is classified as Commercial Class I Type - II.

How the guideline value of Redhills Road has changed

Looking back at the revisions, the guideline value for Redhills Road was Rs 6,000 per sq.ft in 2023, which marked a significant increase of 49% from Rs 4,020 per sq.ft in 2017. Prior to that, in 2012, the value was Rs 6,000 per sq.ft, indicating a decrease of 33% from the 2017 figure. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. The most recent revision in 2024 reflects a 10% rise from the 2023 value, showcasing the current guideline value of Rs 6,600 per sq.ft.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value of Redhills Road is above this median, indicating its higher valuation.

• Rathinam Street: Rs 3,600 per sq.ft (2024)
• Rukumani Street: Rs 4,600 per sq.ft (2024)
• Sagadevan Street (Venkatapuram): Rs 4,000 per sq.ft (2024)
• Ram Barathi Street: Rs 4,600 per sq.ft (2024)
• Ramar Kovil Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Ramapuram Kumaran Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Redhills Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost to Rs 5,94,000. 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 Redhills Road?

The Sub Registrar Office that covers Redhills Road 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees and taxes. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Redhills Road?

The current guideline value of Redhills Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,020 per sq.ft in 2017 to Rs 6,600 per sq.ft in 2024, with various increments in between, including a 49% rise from 2017 to 2023.

What is the classification of land on Redhills Road?

Redhills Road is classified as Commercial Class I Type - II, which indicates its commercial usage potential.

Where can I find the Sub Registrar Office for Redhills Road?

The Sub Registrar Office for Redhills Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties on Redhills Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at 7%.