Guideline Value for RANGA REDDY GARDEN PIRATHANA SALAI

Ranga Reddy Garden Pirathana Salai guideline value

The current guideline value for Ranga Reddy Garden Pirathana Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ranga Reddy Garden Pirathana Salai has changed

Over the years, the guideline value for Ranga Reddy Garden Pirathana Salai has experienced several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was a decrease of 33% from the Rs 2,680 per sq.ft recorded in the 2017 revision. The 2023 revision then increased the value to Rs 4,000 per sq.ft, followed by a further increase of 10% in the 2024 revision, bringing the current value to Rs 4,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2024, the overall change was an increase of 10%. This reflects the adjustments made to the guideline value over the years, culminating in the current figure.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ranga Reddy Garden Pirathana Salai's 2024 figure of Rs 4,400 per sq.ft above this median.

• Ranga Reddy Garden 9th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 8th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 7th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 6th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 5th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 4th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Reddy Garden Pirathana Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ranga Reddy Garden Pirathana Salai?

The Ranga Reddy Garden Pirathana Salai is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on an officially recognized value of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This means that buyers and sellers must consider the guideline value to comply with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Ranga Reddy Garden Pirathana Salai?

The current guideline value for Ranga Reddy Garden Pirathana Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What is the land classification for Ranga Reddy Garden Pirathana Salai?

The land classification for Ranga Reddy Garden Pirathana Salai is Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is stamp duty calculated for property in Ranga Reddy Garden Pirathana Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at Rs 4,400 per sq.ft, the stamp duty would be Rs 3,08,000.