Guideline Value for RANI GARDEN

Rani Garden guideline value

The current guideline value of Rani Garden, located in Chemmancheri village, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class IV Type - I.

How the guideline value of Rani Garden has changed

The guideline value for Rani Garden has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft from the 2024 revision, marking a 13% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 13%. The changes between the revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with the median being Rs 1,700 per sq.ft. Rani Garden's 2024 figure aligns with this median.

• Ranganathan Garden: Rs 1,000 per sq.ft (2024)
• Ravishankar Garden: Rs 3,300 per sq.ft (2024)
• Ramanujam Garden: Rs 1,700 per sq.ft (2024)
• Ramachari Garden: Rs 1,000 per sq.ft (2024)
• Sakthi Nagar: Rs 1,700 per sq.ft (2024)
• Rajiv Gandhi Nagar Mettu Colony Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Rani Garden?

The Sub Registrar Office that covers Rani 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 Chemmancheri

The guideline value plays a crucial role in property transactions in Chemmancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rani Garden?

The current guideline value of Rani Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and is currently Rs 1,700 per sq.ft as of 2024.

What is the land classification for Rani Garden?

Rani Garden is classified as Residential Class IV Type - I according to the land classification guidelines.

Where can I find the Sub Registrar Office for Rani Garden?

The Neelankarai Sub Registrar Office covers Rani Garden and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,700 per sq.ft would incur a total of Rs 1,53,000 in fees.