Guideline Value for RANGANATHAPURAM HUT AREA

Ranganathapuram Hut Area guideline value

The current guideline value for Ranganathapuram Hut Area is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Ranganathapuram Hut Area has changed

In the 2003 revision, the guideline value was Rs 369 per sq.ft. This increased significantly in the 2007 revision to Rs 550 per sq.ft, marking a change of +49%. The value remained at Rs 550 per sq.ft until the 2012 revision, which saw a substantial increase to Rs 2,000 per sq.ft, reflecting a change of +264%. The guideline value did not change from 2012 to 2023, remaining at Rs 2,000 per sq.ft.

The most recent 2024 revision set the guideline value at Rs 2,200 per sq.ft, showing an increase of +10% from the previous year. Overall, from 2003 to 2024, the guideline value has increased by +496%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making the 2024 guideline value for Ranganathapuram Hut Area below this median.

• Rangappan Lane: Rs 2,200 per sq.ft (2024)
• Rani Ammal Street: Rs 2,200 per sq.ft (2024)
• Rani Ammayar Street: Rs 2,700 per sq.ft (2024)
• Rathina Mudali 1st Street: Rs 5,400 per sq.ft (2024)
• Rathina Mudali 2nd Street: Rs 5,400 per sq.ft (2024)
• Rathina Mudali Main Street: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathapuram Hut Area

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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 more details.

Which Sub Registrar Office covers Ranganathapuram Hut Area?

The Ranganathapuram Hut Area falls under the Purasaivakkam Sub Registrar Office located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Perambur. It helps determine the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value serves as a reference for the minimum value on which stamp duty is calculated. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Ranganathapuram Hut Area?

The current guideline value for Ranganathapuram Hut Area 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 changed significantly from Rs 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +496% over this period.

What are the stamp duty and registration fees for property in Ranganathapuram Hut Area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers this area?

The Purasaivakkam Sub Registrar Office covers Ranganathapuram Hut Area, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Ranganathapuram Hut Area?

Ranganathapuram Hut Area is classified as Residential Class IV Type - I according to the guideline value register.