Guideline Value for RANJITH RAJAN NAGAR

Ranjith Rajan Nagar guideline value

The current guideline value of Ranjith Rajan Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This locality is situated in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Ranjith Rajan Nagar has changed

The guideline value for Ranjith Rajan Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 37 per sq.ft. This increased to Rs 50 per sq.ft in 2007, then saw a significant rise to Rs 300 per sq.ft in 2012. However, it dropped to Rs 201 per sq.ft in 2017. The value then increased substantially to Rs 300 per sq.ft in 2023, and most recently to Rs 330 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 792%. The register does not have a figure for Ranjith Rajan Nagar for the year 2002, which means there is no data available for that year.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value for these streets is Rs 330 per sq.ft, and Ranjith Rajan Nagar's 2024 figure aligns with this median.

• Ranga Nagar: Rs 330 per sq.ft (2024)
• Sakthi Nagar: Rs 330 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 330 per sq.ft (2024)
• Saraswathi Nagar: Rs 330 per sq.ft (2024)
• Rajaji Nagar: Rs 330 per sq.ft (2024)
• Ragavendra Nagar (All Phases): Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Ranjith Rajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is charged at 7%, which totals Rs 23,100, and the registration fee is 2%, amounting to Rs 6,600. Therefore, the total cost for stamp duty and registration fee together is Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranjith Rajan Nagar?

The Sub Registrar Office covering Ranjith Rajan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nanthiambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ranjith Rajan Nagar?

The current guideline value of Ranjith Rajan Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 37 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 792% over the years.

What is the land classification for Ranjith Rajan Nagar?

Ranjith Rajan Nagar is classified as Residential Special Type - II, which indicates its designation for residential purposes within the locality.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 3,30,000, the total fees would amount to Rs 29,700.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles the registration of properties in the area.