Guideline Value for RANI NAGAR

Rani Nagar guideline value

The current guideline value of Rani Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,960 per sq.ft as per the 2024 revision. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rani Nagar has changed

Over the years, the guideline value of Rani Nagar has seen significant changes. In the 2007 revision, the value was Rs 300 per sq.ft, which increased dramatically to Rs 1,800 per sq.ft in the 2012 revision, marking a 500% rise. However, in the 2017 revision, the value decreased to Rs 1,206 per sq.ft, reflecting a 33% drop. The 2023 revision saw it rise again to Rs 1,800 per sq.ft, followed by a further increase to Rs 1,960 per sq.ft in the 2024 revision, which is a 9% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 553%, showcasing the fluctuations in property value over the years.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Rani Nagar below this median value.

• Rane Nagar: Rs 1,960 per sq.ft (2024)
• Ramanujar Garden: Rs 2,310 per sq.ft (2024)
• Rose Garden: Rs 1,960 per sq.ft (2024)
• Ramakrishnan Nagar: Rs 3,300 per sq.ft (2024)
• Rajiv Nagar 1 To 3 Street: Rs 3,300 per sq.ft (2024)
• Rajiv Gandhi 1 To 7 Streets: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, making the total cost for these fees Rs 1,76,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rani Nagar?

The Sub Registrar Office that covers Rani Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Nanmangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid. This ensures that the transaction is recorded accurately and fairly according to the established values.

It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions. The guideline value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Rani Nagar?

The current guideline value of Rani Nagar is Rs 1,960 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 300 per sq.ft in 2007 to Rs 1,960 per sq.ft in 2024, representing a 553% increase overall.

What is the median guideline value for streets in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft, with Rani Nagar being below this median.

Where is the Sub Registrar Office for Rani Nagar located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated in Rani Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,76,400.