Guideline Value for Ranga Reddy Garden 1st Pirathana Salai

Ranga Reddy Garden 1st Pirathana Salai guideline value

The current guideline value of Ranga Reddy Garden 1st Pirathana Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ranga Reddy Garden 1st Pirathana Salai has changed

The guideline value for Ranga Reddy Garden 1st Pirathana Salai has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased to Rs 4,000 per sq.ft in 2023, and finally rose to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. When considering the overall change from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Ranga Reddy Garden 1st Pirathana Salai's 2024 figure is above the median.

• Ranga Reddy Garden 1st Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 2nd Cross Street: Rs 4,200 per sq.ft (2024)
• RANGA REDDY GARDEN 12th CROSS STREET: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 2nd Pirathana Salai: Rs 4,400 per sq.ft (2024)
• Ranga Reddy Garden 11th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 3rd Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Reddy Garden 1st Pirathana Salai

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranga Reddy Garden 1st Pirathana Salai?

The Sub Registrar Office that covers Ranga Reddy Garden 1st Pirathana Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value for Ranga Reddy Garden 1st Pirathana Salai?

The current guideline value for Ranga Reddy Garden 1st Pirathana Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations in Neelankarai?

The Neelankarai Sub Registrar Office is responsible for property registrations in the area, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Ranga Reddy Garden 1st Pirathana Salai?

The land classification for Ranga Reddy Garden 1st Pirathana Salai is Residential Class I Type - I.