Guideline Value for RANGA NAGAR

Ranga Nagar guideline value

The current guideline value of Ranga Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village, under the Thiruvottiyur Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - II.

How the guideline value of Ranga Nagar has changed

The guideline value for Ranga Nagar has seen several revisions over the years. The 2012 revision marked the value at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in the 2023 revision, and further rose to Rs 330 per sq.ft in the 2024 revision, reflecting a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2024 figure of Rs 330 per sq.ft aligns with the median value of Rs 330 per sq.ft for the 85 streets in Nanthiambakkam under the Thiruvottiyur SRO.

Guideline values in Nanthiambakkam

In Nanthiambakkam, the guideline values for 2024 range from Rs 275 to Rs 770 per sq.ft, with the median being Rs 330 per sq.ft, which is the same as the guideline value for Ranga Nagar. Below are the guideline values for other streets in Nanthiambakkam:

• Ranjith Rajan Nagar: Rs 330 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 330 per sq.ft (2024)
• Sakthi Nagar: Rs 330 per sq.ft (2024)
• Rajaji Nagar: Rs 330 per sq.ft (2024)
• Saraswathi Nagar: Rs 330 per sq.ft (2024)
• Ragavendra Nagar (All Phases): Rs 330 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranga Nagar?

The Sub Registrar Office that covers Ranga Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When you proceed with a property transaction, the guideline value ensures that the government receives the appropriate fees based on the value of the property being registered. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Ranga Nagar?

The current guideline value of Ranga Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification for Ranga Nagar?

The land classification for Ranga Nagar is Residential Special Type - II.

What is the stamp duty rate for property in Ranga Nagar?

The stamp duty rate for property in Ranga Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ranga Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.