Guideline Value for Ranga Reddy Garden 2nd Cross Street

Ranga Reddy Garden 2nd Cross Street guideline value

The current guideline value of Ranga Reddy Garden 2nd Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Special Type - V.

How the guideline value of Ranga Reddy Garden 2nd Cross Street has changed

The guideline value for Ranga Reddy Garden 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 3,750 per sq.ft. This was followed by a decrease to Rs 2,512 per sq.ft in 2017, before increasing to Rs 3,750 per sq.ft again in 2023. The most recent revision in 2024 set the value at Rs 4,200 per sq.ft, marking a 12% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 12%. It is important to note that there are no recorded 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, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Ranga Reddy Garden 2nd Cross Street above this median at Rs 4,200 per sq.ft.

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

Stamp duty and registration fee for property in Ranga Reddy Garden 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the guideline value totals Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, bringing the total to Rs 3,78,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranga Reddy Garden 2nd Cross Street?

The Sub Registrar Office covering Ranga Reddy Garden 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. 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 based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Ranga Reddy Garden 2nd Cross Street?

The current guideline value of Ranga Reddy Garden 2nd Cross Street is Rs 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 3,750 per sq.ft in 2012 to Rs 4,200 per sq.ft in 2024, with notable increases of 49% from 2017 to 2023 and 12% from 2023 to 2024.

What is the land classification for Ranga Reddy Garden 2nd Cross Street?

Ranga Reddy Garden 2nd Cross Street is classified as Residential Special Type - V.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Ranga Reddy Garden 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 42,00,000, the stamp duty at 7% would amount to Rs 2,94,000.