Guideline Value for RANGANATHAN GARDEN

Ranganathan Garden guideline value

The current guideline value of Ranganathan Garden is Rs 1,000 per sq.ft, as per the 2024 revision effective from 1 July 2024. This locality is situated in Chemmancheri village under the Neelankarai SRO, classified as Residential Class V Type - II.

How the guideline value of Ranganathan Garden has changed

In the 2012 revision, the guideline value was set at Rs 750 per sq.ft. This value decreased to Rs 502 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2023 revision, the value saw a significant increase of 99%, bringing it back to Rs 1,000 per sq.ft. The 2024 revision maintained this figure, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ranganathan Garden. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Ranganathan Garden's 2024 figure below that median.

• Rani Garden: Rs 1,700 per sq.ft (2024)
• Ravishankar Garden: Rs 3,300 per sq.ft (2024)
• Ramanujam Garden: Rs 1,700 per sq.ft (2024)
• Ramachari Garden: Rs 1,000 per sq.ft (2024)
• Rajiv Gandhi Nagar Mettu Colony Street: Rs 2,800 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, together totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ranganathan Garden?

The Sub Registrar Office that covers Ranganathan Garden 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 details.

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

The guideline value is a benchmark used during the registration of properties in Chemmancheri. It helps determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It is crucial for calculating the applicable taxes and ensuring compliance with local regulations during the property transaction process.

Frequently asked questions

What is the current guideline value of Ranganathan Garden?

The current guideline value of Ranganathan Garden is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in both 2023 and 2024.

What is the land classification for Ranganathan Garden?

Ranganathan Garden is classified as Residential Class V Type - II, indicating its use for residential purposes.

Where can I find the registration office for Ranganathan Garden?

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

How is the stamp duty calculated for properties in Ranganathan Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total stamp duty of Rs 70,000.