Guideline Value for Ranganatha Mudali Street

Ranganatha Mudali Street guideline value

The current guideline value of Ranganatha Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Ranganatha Mudali Street has changed

The guideline value for Ranganatha Mudali Street has undergone several revisions over the years. In 2003, the value was Rs 658 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a significant rise of 22%. Following this, the value surged to Rs 5,000 per sq.ft in 2012, reflecting an increase of 525%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The most recent revisions saw the value rise to Rs 5,000 per sq.ft in 2023, and then to the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% increase.

It is important to note that the register has no figure for Ranganatha Mudali Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 736%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Ranganatha Mudali Street's 2024 figure above this median.

• Rangapillai Street: Rs 3,300 per sq.ft (2024)
• RangasamiPillai Street: Rs 2,700 per sq.ft (2024)
• Rajendra Prasad Road: Rs 2,700 per sq.ft (2024)
• Safaiwala Quarters: Rs 2,700 per sq.ft (2024)
• Queen Street: Rs 2,700 per sq.ft (2024)
• Sandhai Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganatha Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty, charged at 7%, would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees would total Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranganatha Mudali Street?

The Sub Registrar Office that covers Ranganatha Mudali Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Ranganatha Mudali Street?

The current guideline value of Ranganatha Mudali Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 658 per sq.ft in 2003 to the current rate of Rs 5,500 per sq.ft in 2024, marking an overall increase of 736% over the years.

What are the other streets in Cantonment Pallavaram?

Other streets in Cantonment Pallavaram include Rangapillai Street, RangasamiPillai Street, Rajendra Prasad Road, Safaiwala Quarters, Queen Street, and Sandhai Road, with varying guideline values.

What fees are associated with buying property in Ranganatha Mudali Street?

When buying property in Ranganatha Mudali Street, you will incur stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ranganatha Mudali Street located?

The Sub Registrar Office for Ranganatha Mudali Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.