Guideline Value for Ranga Reddy Garden 3rd Cross Street

Ranga Reddy Garden 3rd Cross Street guideline value

The current guideline value for Ranga Reddy Garden 3rd 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 3rd Cross Street has changed

The guideline value for Ranga Reddy Garden 3rd Cross Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,750 per sq.ft. In 2017, it decreased to Rs 2,512 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 3,750 per sq.ft in 2023, followed by a further increase to Rs 4,200 per sq.ft in 2024, which represents a 12% rise from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 12%. The register does not have 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 guideline value in this area is Rs 2,200 per sq.ft, placing Ranga Reddy Garden 3rd Cross Street above that median.

• Ranga Reddy Garden 2nd Pirathana Salai: Rs 4,400 per sq.ft (2024)
• Ranga Reddy Garden 4th 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 5th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 1st Pirathana Salai: Rs 4,400 per sq.ft (2024)
• Ranga Reddy Garden 6th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Reddy Garden 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to 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 cost for these fees to Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ranga Reddy Garden 3rd Cross Street?

The Ranga Reddy Garden 3rd Cross Street falls under 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 applicable to the transaction.

Frequently asked questions

What is the current guideline value for Ranga Reddy Garden 3rd Cross Street?

The current guideline value for Ranga Reddy Garden 3rd 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 changed from Rs 3,750 per sq.ft in 2012 to Rs 2,512 per sq.ft in 2017, then back to Rs 3,750 per sq.ft in 2023, and finally to Rs 4,200 per sq.ft in 2024.

What is the land classification for Ranga Reddy Garden 3rd Cross Street?

Ranga Reddy Garden 3rd Cross Street is classified as Residential Special Type - V.

What are the registration fees for property in Ranga Reddy Garden 3rd Cross Street?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or sale price, whichever is higher.

Which office handles registrations for Ranga Reddy Garden 3rd Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Ranga Reddy Garden 3rd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.