Guideline Value

Corporate

Guideline Value for Redhills Sri Senthil Velavan Nagar

₹440/sq.ft.

The guideline value for Redhills Sri Senthil Velavan Nagar in Sothupakkam village (Redhills SRO, Chennai zone) is Rs 440 per sq.ft, effective 1 July 2024. It was Rs 400 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sothupakkam

Village

Redhills

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹440 /sq.ft.
From 1-4-2023 ₹400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹268 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹22 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Redhills Sri Senthil Velavan Nagar

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Redhills Sri Senthil Velavan Nagar guideline value

The current guideline value of Redhills Sri Senthil Velavan Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sothupakkam village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Redhills Sri Senthil Velavan Nagar has changed

The guideline value for Redhills Sri Senthil Velavan Nagar has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 22 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a change of +1264%. The value then rose to Rs 400 per sq.ft in 2012, which was a decrease of -33%. In 2017, the guideline value increased to Rs 268 per sq.ft, followed by a notable rise to Rs 400 per sq.ft in 2023, reflecting a change of +49%. The latest revision in 2024 sets the value at Rs 440 per sq.ft, representing an increase of +10% from the previous year.

It is important to note that there is no figure available for this street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by +1900%.

Guideline values in Sothupakkam

In Sothupakkam, there are 49 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,150 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the current guideline value for Redhills Sri Senthil Velavan Nagar.

Stamp duty and registration fee for property in Redhills Sri Senthil Velavan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total amount to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Redhills Sri Senthil Velavan Nagar?

The Sub Registrar Office covering Redhills Sri Senthil Velavan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Sothupakkam, the guideline value is used to calculate the stamp duty and registration fees payable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the property transaction. Ensuring compliance with the guideline value helps in the smooth processing of registration at the Redhills SRO.

Frequently asked questions

What is the current guideline value of Redhills Sri Senthil Velavan Nagar?

The current guideline value of Redhills Sri Senthil Velavan Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 22 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, marking an overall increase of +1900% over the years.

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

For a 1,000 sq.ft plot, the total stamp duty is Rs 30,800 and the registration fee is Rs 8,800, amounting to a total of Rs 39,600 based on the current guideline value.

Which office handles property registrations in Redhills Sri Senthil Velavan Nagar?

The Redhills Sub Registrar Office handles property registrations for Redhills Sri Senthil Velavan Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees during a transaction. It ensures that properties are registered at a value that reflects the current market conditions.