Guideline Value for RANGANATHAN, NEELA GARDEN

Ranganathan, Neela Garden guideline value

The current guideline value of Ranganathan, Neela Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village and falls under the Neelankarai SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Ranganathan, Neela Garden has changed

The guideline value for Ranganathan, Neela Garden has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision brought the value back up to Rs 1,000 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 1,100 per sq.ft.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Ranganathan, Neela Garden below this median.

• Ranganathan Avenue: Rs 4,400 per sq.ft (2024)
• Ramu, Raja Manickam Thottam: Rs 1,100 per sq.ft (2024)
• Ramu Kannan Gunasekaran Garden: Rs 1,100 per sq.ft (2024)
• Ramu Garden: Rs 1,100 per sq.ft (2024)
• Ramasubramanian Garden: Rs 1,100 per sq.ft (2024)
• Rice Mill Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan, Neela Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ranganathan, Neela Garden?

The Sub Registrar Office covering Ranganathan, Neela 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 information.

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

The guideline value is a crucial factor when registering property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Ranganathan, Neela Garden?

The current guideline value of Ranganathan, Neela Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 1,000 per sq.ft in 2012, Rs 670 per sq.ft in 2017, Rs 1,000 per sq.ft in 2023, and currently Rs 1,100 per sq.ft in 2024.

What is the land classification for Ranganathan, Neela Garden?

The land classification for Ranganathan, Neela Garden is Residential Class III Type - I.

Which office handles registrations for Ranganathan, Neela Garden?

The Neelankarai Sub Registrar Office handles registrations for Ranganathan, Neela Garden, located on East Coast Road, Neelangarai.

How is stamp duty calculated for properties in Uthandi?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This amount is then used to determine the total registration fees due during the transaction.