Guideline Value for RANGANATHAPURAM STREET

Ranganathapuram Street guideline value

The current guideline value of Ranganathapuram Street is Rs 9,300 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 III Type - II.

How the guideline value of Ranganathapuram Street has changed

The guideline value for Ranganathapuram Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 843 per sq.ft, which increased to Rs 937 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 8,500 per sq.ft in 2012, reflecting an increase of 807%. This figure remained unchanged until the 2023 revision, where it was still Rs 8,500 per sq.ft. However, in the 2024 revision, the guideline value rose to Rs 9,300 per sq.ft, an increase of 9% from the previous year.

It is important to note that there are no figures available for the years 2007 and 2017 for Ranganathapuram Street. Overall, from 2002 to 2024, the guideline value has increased by a remarkable 1003%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ranganathapuram Street's 2024 guideline value above this median.

• Ranganathan Street: Rs 3,300 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 Ranganathapuram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty, charged at 7%, would be Rs 6,51,000, while the registration fee at 2% would be Rs 1,86,000. This brings the total cost for stamp duty and registration fees to Rs 8,37,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranganathapuram Street?

The Sub Registrar Office covering Ranganathapuram 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, as these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ranganathapuram Street?

The current guideline value of Ranganathapuram Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 843 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 1003% over this period.

Are there any years without a guideline value for Ranganathapuram Street?

Yes, there are no figures available for Ranganathapuram Street for the years 2007 and 2017.

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

For a property valued at Rs 93,00,000, the stamp duty would be Rs 6,51,000 and the registration fee would be Rs 1,86,000, totaling Rs 8,37,000.

Where is the Sub Registrar Office for Ranganathapuram Street located?

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