Guideline Value for RANGANATHANPURAM

Ranganathanpuram guideline value

The current guideline value for Ranganathanpuram, located in Medavakkam village under the Chennai South Joint I SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ranganathanpuram has changed

The guideline value for Ranganathanpuram has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 134 per sq.ft. This increased to Rs 156 per sq.ft in 2003, reflecting a change of +16%. The value then experienced a significant rise to Rs 500 per sq.ft in 2007, marking an increase of +221%. Following this, the 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of -33% from the previous figure. The 2017 revision saw the value rise again to Rs 1,340 per sq.ft, an increase of +49%. The most recent revisions include Rs 2,000 per sq.ft in 2023 and Rs 2,200 per sq.ft in 2024, reflecting a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1542%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value for Ranganathanpuram.

• Ranganathpuram/ Nehru Street: Rs 2,200 per sq.ft (2024)
• Rangathanpuram Bajanai Koil Street: Rs 2,200 per sq.ft (2024)
• Rangathanpuram Kulasekara Alwar Street: Rs 2,200 per sq.ft (2024)
• Ravi Street: Rs 1,870 per sq.ft (2024)
• Roja Street (Senthamizh Nagar): Rs 2,750 per sq.ft (2024)
• Royal Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathanpuram

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ranganathanpuram?

The Sub Registrar Office that covers Ranganathanpuram 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 Medavakkam

The guideline value is a crucial factor in property transactions in Medavakkam, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that the government receives appropriate revenue from property transactions. It serves as a benchmark for assessing property values, helping to maintain transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value of Ranganathanpuram?

The current guideline value of Ranganathanpuram is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 134 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of +1542% over the years.

What is the classification of land in Ranganathanpuram?

The land in Ranganathanpuram is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for properties in Ranganathanpuram?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Ranganathanpuram located?

The Sub Registrar Office for Ranganathanpuram is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.