Guideline Value for Ranga Reddy Garden 8th Cross Street

Ranga Reddy Garden 8th Cross Street guideline value

The current guideline value of Ranga Reddy Garden 8th 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 8th Cross Street has changed

The guideline value for Ranga Reddy Garden 8th Cross Street has undergone several revisions over the years. The earliest revision available is from 2012, where the guideline value was Rs 3,750 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 2,512 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,750 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 4,200 per sq.ft, reflecting a 12% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, the guideline value has increased by 12% from 2012 to 2024.

Guideline values in Neelankarai

In Neelankarai village, 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 for these streets is Rs 2,200 per sq.ft, placing Ranga Reddy Garden 8th Cross Street above this median.

• Ranga Reddy Garden 7th 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 6th 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 Pirathana Salai: Rs 4,400 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 8th 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, leading to a total cost of Rs 3,78,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranga Reddy Garden 8th Cross Street?

The Sub Registrar Office that covers Ranga Reddy Garden 8th 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 of property transactions in Neelankarai. When buying or selling property, the guideline value determines the minimum value at which the property must be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Understanding the guideline value helps in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Ranga Reddy Garden 8th Cross Street?

The current guideline value of Ranga Reddy Garden 8th 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 increased 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 8th Cross Street?

The land classification for Ranga Reddy Garden 8th Cross Street is 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 8th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 42,00,000, the stamp duty would be Rs 2,94,000.