Guideline Value for RANGANATHAN PURAM

Ranganathan Puram guideline value

The current guideline value of Ranganathan Puram is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is part of Pallikaranai village under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Ranganathan Puram has changed

The guideline value for Ranganathan Puram has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision increased the guideline value to Rs 1,650 per sq.ft, reflecting a significant rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Pallikaranai

Pallikaranai comprises 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The guideline value of Ranganathan Puram matches the median value of Rs 1,650 per sq.ft.

• Ram Nagar South Extn.: Rs 2,750 per sq.ft (2024)
• Ram Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Ram Nagar: Rs 2,200 per sq.ft (2024)
• Riverview Colony: Rs 2,750 per sq.ft (2024)
• Ramalinga Adigal Street / Periyar Nagar: Rs 1,650 per sq.ft (2024)
• Ramalinga Adigal Street Extension: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost to Rs 1,48,500. 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 further assistance.

Which Sub Registrar Office covers Ranganathan Puram?

The Sub Registrar Office that covers Ranganathan Puram is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ranganathan Puram?

The current guideline value of Ranganathan Puram is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,650 per sq.ft in 2024. This represents a decline of 33% from 2012 to 2017 and a rise of 64% from 2017 to 2024.

What are the stamp duty and registration fees for Ranganathan Puram?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Ranganathan Puram?

The Chennai South Joint I Sub Registrar Office handles registrations for Ranganathan Puram. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for property transactions, ensuring that properties are registered at a minimum value. This helps in determining the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.