Guideline Value for RENGA NAGAR

Renga Nagar guideline value

The current guideline value of Renga Nagar, located in Mathuranthagam village under the Madurandakam SRO, is Rs 1,110 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Renga Nagar has changed

The guideline value for Renga Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it saw a decrease to Rs 670 per sq.ft in 2017. Following this, the value rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,110 per sq.ft as of the 2024 revision. The revisions for the years 2002 and 2003 do not have figures available for this street.

When looking at the changes, from 2007 to 2012, there was a remarkable increase of 300%. However, the value decreased by 33% from 2012 to 2017. A significant increase of 49% was noted from 2017 to 2023, followed by an 11% increase from 2023 to 2024. Overall, the guideline value has increased by 344% from 2007 to 2024.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, making Renga Nagar's current value slightly above this median.

• Rayam Ramanujam Iyyengar Street: Rs 1,110 per sq.ft (2024)
• RANGASAMY NAIKAR (a) KANNAKKAR STREET: Rs 1,110 per sq.ft (2024)
• Ranga Nagar: Rs 1,100 per sq.ft (2024)
• RANGACHARI STREET (a) RANGAN STREET: Rs 1,110 per sq.ft (2024)
• Ramachandra Nagar: Rs 775 per sq.ft (2024)
• Sandhikkarai Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Renga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty is calculated at 7%, which totals Rs 77,700, and the registration fee is charged at 2%, amounting to Rs 22,200. Together, these fees total Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Renga Nagar?

The Sub Registrar Office that covers Renga Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your specific SRO, you can visit this link.

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

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

When buying or selling property, the guideline value is used to assess the transaction's legitimacy and to calculate the applicable fees. Buyers should be aware that the stamp duty is based on the higher of the guideline value or the sale price, ensuring that the government receives fair revenue from property transactions.

Frequently asked questions

What is the current guideline value of Renga Nagar?

The current guideline value of Renga Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, reflecting an overall increase of 344% over the years.

What is the land classification for Renga Nagar?

The land classification for Renga Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

Which office handles property registrations in Renga Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Renga Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Renga Nagar?

Stamp duty in Renga Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700.