Guideline Value for RANGANATHAN STREET

Ranganathan Street guideline value

The current guideline value of Ranganathan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Ranganathan Street has changed

The guideline value for Ranganathan Street has seen several revisions over the years. The 2007 revision set the value at Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 233% rise. However, the value then decreased to Rs 2,010 per sq.ft in the 2017 revision, a decline of 33%. The subsequent 2023 revision brought it back up to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 267%. It is important to note that the register has no figures for Ranganathan Street for the years 2002 and 2003.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Ranganathan Street's 2024 guideline value is below this median.

• Ranganathapuram Street: Rs 9,300 per sq.ft (2024)
• Ranga Lane (Rangachari Road): Rs 14,300 per sq.ft (2024)
• Rangaiah Garden Street: Rs 11,500 per sq.ft (2024)
• Rani Annadurai Street: Rs 8,800 per sq.ft (2024)
• Ra Puram 1st Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 1st Main Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranganathan Street?

The Sub Registrar Office that covers Ranganathan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers to be aware of the guideline value to make informed decisions during the property acquisition process.

Frequently asked questions

What is the current guideline value of Ranganathan Street?

The current guideline value of Ranganathan Street is Rs 3,300 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 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Ranganathan Street?

Ranganathan Street is classified as Residential Class V Type - III, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Ranganathan Street?

The Mylapore Sub Registrar Office covers Ranganathan Street and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the stamp duty and registration fee for a property in Ranganathan Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. The duty is charged on the higher of the guideline value and the sale price.