Guideline Value for South Reddy Street

South Reddy Street guideline value

The current guideline value of South Reddy Street, located in Uthiramerur village under the Uthiramerur SRO, is Rs 1,500 per sq.ft. This value is effective from 1 July 2024 and is classified as Commercial Class I Type - I.

How the guideline value of South Reddy Street has changed

The guideline value for South Reddy Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 386 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, this figure saw a decline to Rs 536 per sq.ft in the 2017 revision. The guideline value then rose significantly to Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, reflecting a 180% increase from 2017 to 2023, with no change from 2023 to 2024.

There are no figures available for South Reddy Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 289%.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, placing South Reddy Street's 2024 figure above this median.

• Somanadhapuram Yadhaval Street: Rs 250 per sq.ft (2024)
• Somanadhapuram Pandara Street: Rs 250 per sq.ft (2024)
• Somanadhapuram Muthurampillai Street: Rs 250 per sq.ft (2024)
• Somanadhaburam Bjanai KoilStreet: Rs 250 per sq.ft (2024)
• S.L.Green City: Rs 300 per sq.ft (2024)
• Sinna NarasamPettai Street: Rs 1,350 per sq.ft (2024)

Stamp duty and registration fee for property in South Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value is Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. 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 South Reddy Street?

The Sub Registrar Office that covers South Reddy Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Uthiramerur, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When buying or selling property, it is essential to be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of South Reddy Street?

The current guideline value of South Reddy Street is Rs 1,500 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 386 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, marking an overall increase of 289%.

What is the land classification for South Reddy Street?

South Reddy Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles property registrations for South Reddy Street?

The Uthiramerur Sub Registrar Office handles property registrations for South Reddy Street, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406.