Guideline Value for RENGANATHAPURAM

Renganathapuram guideline value

The current guideline value of Renganathapuram, located in Thiruvanmiyur village, is Rs 9,900 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification within the Chennai South Joint I SRO.

How the guideline value of Renganathapuram has changed

The guideline value for Renganathapuram has seen significant changes over the years. In 2002, the guideline value was Rs 756 per sq.ft, which increased to Rs 926 per sq.ft in 2003, marking a 22% rise. Following that, in 2007, the value surged to Rs 1,300 per sq.ft, reflecting a 40% increase. The value further escalated to Rs 9,000 per sq.ft in 2012, representing a substantial 592% growth. However, it dropped to Rs 6,030 per sq.ft in 2017, which was a decline of 33%. The value then increased to Rs 9,000 per sq.ft in 2023, and finally, it reached Rs 9,900 per sq.ft in 2024, a rise of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 1210%. It is important to note that there are no figures available for the years not mentioned in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, which is equal to the current value of Renganathapuram.

• Renganathapuram (Indra Nagar): Rs 9,900 per sq.ft (2024)
• Reserve Bank Colony: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 9th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 8th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 7th West Street: Rs 9,900 per sq.ft (2024)
• Rathinam Nagar 4th West Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Renganathapuram

For a 1,000 sq.ft plot at the current rate of Rs 9,900 per sq.ft, the guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Renganathapuram?

The Sub Registrar Office that covers Renganathapuram is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

When a property is registered, the guideline value is used to determine the applicable charges. If the sale price is higher than the guideline value, the duty is calculated based on the sale price to ensure the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Renganathapuram?

The current guideline value of Renganathapuram is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 756 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting a significant overall increase of 1210% over this period.

What are the other streets in Thiruvanmiyur with the same guideline value?

Other streets in Thiruvanmiyur with the same guideline value of Rs 9,900 per sq.ft include Renganathapuram (Indra Nagar), Reserve Bank Colony, and several streets in Rathinam Nagar.

How is stamp duty calculated in Renganathapuram?

Stamp duty in Renganathapuram is calculated based on the guideline value or the sale price, whichever is higher. The current stamp duty rate is 7% of the guideline value.

Where can I find the Sub Registrar Office for Renganathapuram?

The Sub Registrar Office for Renganathapuram is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information about it online.