Guideline Value for RANGANATHAN AVENUE

Ranganathan Avenue guideline value

The current guideline value of Ranganathan Avenue is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Special Type - I.

How the guideline value of Ranganathan Avenue has changed

The guideline value for Ranganathan Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 2,800 per sq.ft, which increased significantly to Rs 12,000 per sq.ft in 2012. However, it then decreased to Rs 8,040 per sq.ft in 2017. The next revision in 2023 set the value at Rs 12,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 13,200 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median of Rs 5,500 per sq.ft. Ranganathan Avenue's guideline value of Rs 13,200 per sq.ft is above this median.

• Rangaiah Chetty Street: Rs 6,500 per sq.ft (2024)
• Ranganathapuram: Rs 4,900 per sq.ft (2024)
• Rangapillai Lane: Rs 5,500 per sq.ft (2024)
• Rangappa Street: Rs 5,500 per sq.ft (2024)
• Rangu Lane: Rs 4,900 per sq.ft (2024)
• Rao Sahib Venkatapathy Naidu Street: Rs 6,000 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 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that 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 Ranganathan Avenue?

The Sub Registrar Office that covers Ranganathan Avenue is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buyers and sellers agree on a sale price, the guideline value is compared to this price. The higher amount will be used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ranganathan Avenue?

The current guideline value of Ranganathan Avenue is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,800 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 371%.

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

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

Where is the Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Ranganathan Avenue?

Ranganathan Avenue is classified as Residential Special Type - I under the guideline value register.