Guideline Value for RENUGAMBAL NAGAR

Renugambal Nagar guideline value

The current guideline value of Renugambal Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is located in Arasankalani village, under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Renugambal Nagar has changed

The guideline value for Renugambal Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,100 per sq.ft as per the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it experienced a significant increase of 49%. The most recent change from 2023 to 2024 reflects a 5% rise. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 5%.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value is Rs 2,100 per sq.ft, which is the same as the guideline value for Renugambal Nagar.

• Rajiv Nagar: Rs 1,900 per sq.ft (2024)
• Rajaji Street: Rs 1,300 per sq.ft (2024)
• Santhanapuram: Rs 2,100 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 1,300 per sq.ft (2024)
• Perumbakkam Salai Street: Rs 2,100 per sq.ft (2024)
• Perumbakkam Koil Street: Rs 2,100 per sq.ft (2024)

Stamp duty and registration fee for property in Renugambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, while the registration fee at 2% would be Rs 42,000. Together, these fees total Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Renugambal Nagar?

The Sub Registrar Office that covers Renugambal Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Arasankalani

The guideline value is a crucial factor in the registration process when buying or selling property in Arasankalani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Renugambal Nagar?

The current guideline value of Renugambal Nagar is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,100 per sq.ft in 2024.

What are the other streets in Arasankalani and their guideline values?

Other streets in Arasankalani include Rajiv Nagar at Rs 1,900 per sq.ft, Rajaji Street at Rs 1,300 per sq.ft, Santhanapuram at Rs 2,100 per sq.ft, Pillaiyar Koil Street at Rs 1,300 per sq.ft, Perumbakkam Salai Street at Rs 2,100 per sq.ft, and Perumbakkam Koil Street at Rs 2,100 per sq.ft.

What fees are associated with buying property in Renugambal Nagar?

When buying property in Renugambal Nagar, a buyer must pay stamp duty at 7% and a registration fee at 2% based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Renugambal Nagar located?

The Sub Registrar Office for Renugambal Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.