Guideline Value for Therku Redkills Road

Therku Redkills Road guideline value

The current guideline value of Therku Redkills Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This road is located in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Therku Redkills Road has changed

The guideline value for Therku Redkills Road has undergone several revisions over the years. In 2002, the value was Rs 417 per sq.ft, which increased to Rs 452 per sq.ft in 2003, marking an 8% rise. The value saw a significant jump to Rs 1,000 per sq.ft in 2007, representing a 121% increase. This was followed by a substantial rise to Rs 3,500 per sq.ft in 2012, a 250% increase from the previous revision. However, the value decreased to Rs 2,345 per sq.ft in 2017, reflecting a 33% drop.

In the subsequent revisions, the guideline value rose to Rs 3,500 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, marking a 9% increase from the previous year. The overall change from 2002 to 2024 shows an increase of 811% in the guideline value.

Guideline values in Konnur

Konnur village features 249 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value across these streets is Rs 3,800 per sq.ft, which is equal to the current guideline value of Therku Redkills Road.

• Therkumada Veethi (Vijayalakshipuram): Rs 5,500 per sq.ft (2024)
• Therkumada Veethi 1,2,3 and 4th Street: Rs 5,500 per sq.ft (2024)
• Therkumada Veethi: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar Third Prathana Salai: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar Third Cross Street & Street: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar Sixth Cross Street & Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Therku Redkills Road

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. 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 Therku Redkills Road?

The Sub Registrar Office covering Therku Redkills Road is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Konnur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Therku Redkills Road?

The current guideline value of Therku Redkills Road is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 417 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, which is an overall increase of 811%.

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

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles registrations for properties in Konnur?

The Konnur Sub Registrar Office handles registrations for properties in Konnur, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the classification of land on Therku Redkills Road?

The land classification for Therku Redkills Road is Residential Class II Type - I, which indicates its designated use for residential purposes.