Guideline Value for RANGA NAGAR

Ranga Nagar guideline value

The current guideline value of Ranga Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village, under the Madurandakam SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Ranga Nagar has changed

The guideline value for Ranga Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value decreased to Rs 670 per sq.ft, reflecting a 33% decline. The value then rose to Rs 1,000 per sq.ft in 2023, and further increased to the current rate of Rs 1,100 per sq.ft in 2024, representing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam village, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Ranga Nagar.

• RANGACHARI STREET (a) RANGAN STREET: Rs 1,110 per sq.ft (2024)
• RANGASAMY NAIKAR (a) KANNAKKAR STREET: Rs 1,110 per sq.ft (2024)
• Rayam Ramanujam Iyyengar Street: Rs 1,110 per sq.ft (2024)
• Renga Nagar: Rs 1,110 per sq.ft (2024)
• Ramachandra Nagar: Rs 775 per sq.ft (2024)
• Rajagopal Mudali Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranga Nagar?

The Sub Registrar Office that covers Ranga Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ranga Nagar?

The current guideline value of Ranga Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the other streets with guideline values in Mathuranthagam?

Other streets in Mathuranthagam include RANGACHARI STREET (a) RANGAN STREET, RANGASAMY NAIKAR (a) KANNAKKAR STREET, Rayam Ramanujam Iyyengar Street, Renga Nagar, Ramachandra Nagar, and Rajagopal Mudali Street, with varying guideline values.

How is stamp duty calculated in Ranga Nagar?

Stamp duty in Ranga Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the stamp duty would be Rs 77,000.

Where can I find the Sub Registrar Office for Ranga Nagar?

The Sub Registrar Office for Ranga Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.