Guideline Value for Ranga Reddy Garden 9th Cross Street

Ranga Reddy Garden 9th Cross Street guideline value

The current guideline value of Ranga Reddy Garden 9th 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 9th Cross Street has changed

The guideline value for Ranga Reddy Garden 9th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,750 per sq.ft. This value then decreased to Rs 2,512 per sq.ft in 2017, marking a decline of 33%. Following this, the value increased significantly to Rs 3,750 per sq.ft in 2023, and then further rose to Rs 4,200 per sq.ft in 2024, reflecting an increase of 12% from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 12%. The value rose from Rs 2,512 per sq.ft in 2017 to Rs 3,750 per sq.ft in 2023, representing a substantial increase of 49% over that period. It is important to note that there are no recorded figures in the register 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 for these streets is Rs 2,200 per sq.ft, placing Ranga Reddy Garden 9th Cross Street above that median with its current rate of Rs 4,200 per sq.ft.

• Ranga Reddy Garden 8th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden 7th Cross Street: Rs 4,200 per sq.ft (2024)
• Ranga Reddy Garden Pirathana Salai: Rs 4,400 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 4th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Reddy Garden 9th 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.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ranga Reddy Garden 9th Cross Street?

The Ranga Reddy Garden 9th 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. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Neelankarai. It is used to determine the stamp duty and registration fees applicable to the property, ensuring that these costs are calculated based on a standardized value set by the government.

When buying or selling property, the guideline value serves as a reference point to ensure that the transaction is recorded accurately. Buyers should be aware that the duty will be charged on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ranga Reddy Garden 9th Cross Street?

The current guideline value of Ranga Reddy Garden 9th 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 9th Cross Street?

Ranga Reddy Garden 9th 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 the stamp duty calculated for properties in Ranga Reddy Garden 9th Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 3,78,000.