Guideline Value for Ranga Reddy Garden 7th Cross Street

Ranga Reddy Garden 7th Cross Street guideline value

The current guideline value of Ranga Reddy Garden 7th 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 7th Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,750 per sq.ft. This figure then decreased to Rs 2,512 per sq.ft in the 2017 revision, marking a decline of 33%. The value increased significantly in the following revisions, reaching Rs 3,750 per sq.ft again in 2023, and then rising to Rs 4,200 per sq.ft in the 2024 revision, which represents a 12% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 12%. 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 have a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Ranga Reddy Garden 7th Cross Street's 2024 figure is above that median.

• Ranga Reddy Garden 6th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 8th 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 9th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 4th 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 7th 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 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 information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranga Reddy Garden 7th Cross Street?

The Sub Registrar Office that covers Ranga Reddy Garden 7th 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When you buy or sell property, the guideline value helps in calculating the applicable duties and fees. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ranga Reddy Garden 7th Cross Street?

The current guideline value of Ranga Reddy Garden 7th 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 7th Cross Street?

Ranga Reddy Garden 7th Cross Street is classified as Residential Special Type - V.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 42,00,000, the stamp duty at 7% is Rs 2,94,000, and the registration fee at 2% is Rs 84,000, totaling Rs 3,78,000.

Which office handles registrations for Ranga Reddy Garden 7th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Ranga Reddy Garden 7th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.