Guideline Value for Redhills Road

Redhills Road guideline value

The current guideline value of Redhills Road in Kathirvedu village, under the Ambattur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Redhills Road has changed

The guideline value for Redhills Road has seen several revisions over the years. The earliest recorded figure is from 2003, when it was Rs 227 per sq.ft. The value increased to Rs 500 per sq.ft in 2007, followed by a significant jump to Rs 2,600 per sq.ft in 2012. However, it dropped to Rs 1,742 per sq.ft in 2017. The 2023 revision set the value at Rs 2,600 per sq.ft, which was then raised to Rs 2,800 per sq.ft in 2024, marking an 8% increase from the previous year.

In summary, the guideline value has increased significantly from Rs 227 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 1133%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Redhills Road above this median.

• Royal City: Rs 1,400 per sq.ft (2024)
• Sabari Nagar: Rs 1,400 per sq.ft (2024)
• Ramji Nagar: Rs 1,500 per sq.ft (2024)
• Ramachandran Street: Rs 1,100 per sq.ft (2024)
• Sathyamurthy Co.Op.Building Society Nagar: Rs 2,200 per sq.ft (2024)
• Raasi Nagar: Rs 1,100 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

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 more details.

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

The guideline value is a critical factor in the registration process of property transactions in Kathirvedu. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for all property sales.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as determined by the state authorities. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Redhills Road?

The current guideline value of Redhills Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 227 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and a significant increase in 2024.

What is the land classification for Redhills Road?

The land classification for Redhills Road is Mixed Type - I, indicating a diverse use of land in the area.

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

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

How is the stamp duty calculated for property transactions?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 at 7%.