Guideline Value for RANGANATHAN STREET

Ranganathan Street guideline value

The current guideline value of Ranganathan Street is Rs 27,500 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - I.

How the guideline value of Ranganathan Street has changed

The guideline value of Ranganathan Street has seen several revisions over the years. In 2002, the value was Rs 4,294 per sq.ft, which increased to Rs 4,766 per sq.ft in 2003, marking an 11% rise. The value continued to rise significantly, reaching Rs 6,000 per sq.ft in 2007, an increase of 26%. By 2012, the value was Rs 25,000 per sq.ft, which reflected a remarkable 317% increase from the previous revision.

From 2012 to 2017, the value decreased to Rs 16,750 per sq.ft, a decline of 33%. However, it rebounded to Rs 25,000 per sq.ft in 2023, showing a significant 49% increase. The most recent revision in 2024 has set the guideline value at Rs 27,500 per sq.ft, a 10% increase from the previous year. There are no figures available in the register for any other revisions for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a guideline value for 2024 ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Ranganathan Street's 2024 figure significantly above this median.

• Rangan Lane: Rs 6,600 per sq.ft (2024)
• Rangan Street: Rs 11,000 per sq.ft (2024)
• Ratan Street: Rs 13,200 per sq.ft (2024)
• Reddy Manai: Rs 5,500 per sq.ft (2024)
• Rameshwaram Road: Rs 17,600 per sq.ft (2024)
• Ramasamy Street: Rs 14,300 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 27,500 per sq.ft, the total guideline value would be Rs 2,75,00,000. The stamp duty, charged at 7%, would amount to Rs 19,25,000, and the registration fee, charged at 2%, would be Rs 5,50,000. Together, the total cost would be Rs 24,75,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ranganathan Street?

The Sub Registrar Office that covers Ranganathan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Tnagar. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. This ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered to avoid discrepancies during registration. Buyers should be aware that the registration fees and stamp duty are based on the higher of the guideline value or the sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ranganathan Street?

The current guideline value of Ranganathan Street is Rs 27,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,294 per sq.ft in 2002 to Rs 27,500 per sq.ft in 2024, showing an overall increase of 540% over the years.

What is the land classification of Ranganathan Street?

Ranganathan Street is classified as Commercial Special Type - I, indicating its significance for commercial activities.

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

The Sub Registrar Office for Ranganathan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty in Tnagar is calculated based on the guideline value or the sale price, whichever is higher. The current stamp duty rate is 7%, while the registration fee is 2% of the guideline value.