Guideline Value for T.R.REDDIYAR NAGAR

T.R.Reddiyar Nagar guideline value

The current guideline value of T.R.Reddiyar Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO and is classified as Residential Class III Type - I.

How the guideline value of T.R.Reddiyar Nagar has changed

The guideline value for T.R.Reddiyar Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 440 per sq.ft, an increase from Rs 400 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 268 per sq.ft, indicating a significant increase of +49% from 2017 to 2023. There are no figures available for this street in the revisions of 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the current 2024 figure, T.R.Reddiyar Nagar has experienced an increase of +64%. The consistent rise in the guideline value reflects changes in the local real estate landscape.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. T.R.Reddiyar Nagar's 2024 guideline value of Rs 440 per sq.ft is below this median.

• Udhaya Nagar: Rs 440 per sq.ft (2024)
• T.K.R. Road: Rs 1,320 per sq.ft (2024)
• Union Carbide Employees Co Operative Nagar Phase-II: Rs 580 per sq.ft (2024)
• Thiruvudaiyamman Nagar: Rs 550 per sq.ft (2024)
• Thiruvottiyur High Road: Rs 1,320 per sq.ft (2024)
• Varalakshmi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in T.R.Reddiyar 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 cost for these fees 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers T.R.Reddiyar Nagar?

The Sub Registrar Office that covers T.R.Reddiyar Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Minjur. It is used to determine the stamp duty and registration fees, which are essential costs for buyers and sellers alike.

When a property is sold, the guideline value serves as a benchmark for calculating these fees, ensuring that all transactions are recorded accurately and transparently. Buyers should be aware of the guideline value to understand their financial obligations during the purchase process.

Frequently asked questions

What is the current guideline value of T.R.Reddiyar Nagar?

The current guideline value of T.R.Reddiyar Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by +64% to the current value of Rs 440 per sq.ft. The most recent change was a +10% increase from Rs 400 per sq.ft in 2023.

What are the registration fees for a property in T.R.Reddiyar Nagar?

The registration fees for a property in T.R.Reddiyar Nagar include a stamp duty of 7% and a registration fee of 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 39,600.

Which office handles property registrations in T.R.Reddiyar Nagar?

The Ponneri Sub Registrar Office handles property registrations for T.R.Reddiyar Nagar. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of T.R.Reddiyar Nagar?

T.R.Reddiyar Nagar is classified as Residential Class III Type - I, which indicates its suitability for residential development.