Guideline Value for RANGANATHAN AVENUE

Ranganathan Avenue guideline value

The current guideline value of Ranganathan Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Special Type - III.

How the guideline value of Ranganathan Avenue has changed

The guideline value for Ranganathan Avenue has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 3,350 per sq.ft. This increased to Rs 5,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ranganathan Avenue's guideline value above this median.

• Ramya Nagar Layout: Rs 1,700 per sq.ft (2024)
• Ravi Street: Rs 2,200 per sq.ft (2024)
• Ramdev Thottam: Rs 1,700 per sq.ft (2024)
• Rambabu Thottam: Rs 1,700 per sq.ft (2024)
• Rmd Nagar: Rs 1,700 per sq.ft (2024)
• Royal Compound: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranganathan Avenue?

The Sub Registrar Office that covers Ranganathan Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is crucial during property registration as it determines the minimum value for which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

When buying or selling property in Sholinganallur - 1, it is essential to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers should ensure that they are prepared for these costs based on the guideline value applicable to the property.

Frequently asked questions

What is the current guideline value of Ranganathan Avenue?

The current guideline value of Ranganathan Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, rising from Rs 3,350 per sq.ft to Rs 5,500 per sq.ft.

What is the stamp duty rate for property in Ranganathan Avenue?

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

Where is the Neelankarai Sub Registrar Office located?

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

What are the guideline values of other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1 have varying guideline values, ranging from Rs 1,000 to Rs 8,800 per sq.ft. For example, Ramya Nagar Layout has a guideline value of Rs 1,700 per sq.ft, while Royal Compound has a value of Rs 4,400 per sq.ft.