Guideline Value for RATAN STREET

Ratan Street guideline value

The current guideline value of Ratan Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Ratan Street has changed

The guideline value for Ratan Street has seen significant changes over the years. In 2002, the guideline value was Rs 901 per sq.ft. It increased to Rs 1,000 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 2,000 per sq.ft in 2007, which was a 100% increase. Following this, the 2012 revision set the value at Rs 12,000 per sq.ft, reflecting a substantial increase of 500% from the previous revision. However, in 2017, the value dropped to Rs 8,040 per sq.ft, indicating a decrease of 33%.

In 2023, the guideline value was Rs 12,000 per sq.ft, and it increased by 10% to reach the current value of Rs 13,200 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,365%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, and Ratan Street's 2024 figure is above this median.

• Rangan Street: Rs 11,000 per sq.ft (2024)
• Rangan Lane: Rs 6,600 per sq.ft (2024)
• Ranganathan Street: Rs 27,500 per sq.ft (2024)
• Reddy Manai: Rs 5,500 per sq.ft (2024)
• Rameshwaram Road: Rs 17,600 per sq.ft (2024)
• Ramasamy Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ratan Street

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ratan Street?

The Sub Registrar Office that covers Ratan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing market conditions, thereby facilitating transparency in property transactions.

Frequently asked questions

What is the current guideline value of Ratan Street?

The current guideline value of Ratan Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value of Ratan Street changed over the years?

The guideline value has increased from Rs 901 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 1,365% over the years.

What are the stamp duty and registration fees for property in Ratan Street?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office covers Ratan Street?

The Thiyagaraya nagar Sub Registrar Office covers Ratan Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the land classification for Ratan Street?

Ratan Street is classified as Mixed Special Type - II, which is relevant for understanding its guideline value and usage in property transactions.