Guideline Value for Ranga Nagar

Ranga Nagar guideline value

The current guideline value of Ranga Nagar, located in Mudichur village under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Ranga Nagar has changed

The guideline value for Ranga Nagar has experienced several revisions over the years. The earliest recorded figure is from 2007, which was Rs 200 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 2,000 per sq.ft, marking a notable change of +900%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of -33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently, it increased to Rs 2,200 per sq.ft in 2024, representing a +10% change.

Between 2017 and 2023, the guideline value increased by +49%. Overall, from 2007 to 2024, the guideline value has seen a remarkable increase of +1000%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

In Mudichur, 135 streets under the Padappai SRO have a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with the median value being Rs 2,200 per sq.ft. Ranga Nagar's 2024 figure aligns exactly with this median.

• Ram Nagar: Rs 1,210 per sq.ft (2024)
• Ramar Thottam: Rs 1,210 per sq.ft (2024)
• Ramanujam Street: Rs 1,210 per sq.ft (2024)
• Sakthi Nagar: Rs 1,760 per sq.ft (2024)
• Rajarajan Street: Rs 3,630 per sq.ft (2024)
• Saranga Avenue: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Ranga Nagar?

The Sub Registrar Office that covers Ranga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mudichur. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is officially recognized by the state.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. It ensures that buyers and sellers are aware of the minimum value that the property is recognized at for legal and taxation purposes.

Frequently asked questions

What is the current guideline value of Ranga Nagar?

The current guideline value of Ranga Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1000% over the years.

What is the land classification for Ranga Nagar?

The land classification for Ranga Nagar is Residential Special Type - I.

Where can I find the Sub Registrar Office for Ranga Nagar?

The Sub Registrar Office for Ranga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Ranga Nagar?

Stamp duty in Ranga Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.