Guideline Value for Ranganatha Nagar

Ranganatha Nagar guideline value

The current guideline value of Ranganatha Nagar is Rs 830 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ranganatha Nagar has changed

Over the years, the guideline value of Ranganatha Nagar has seen several revisions. The 2007 revision set the value at Rs 175 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2012, marking a rise of 329%. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, a drop of 33%. The 2017 revision then raised the value to Rs 750 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 830 per sq.ft, an increase of 11% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 374%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which matches the current guideline value of Ranganatha Nagar.

• R.M. Nagar: Rs 900 per sq.ft (2024)
• Rajeswari Nagar: Rs 1,320 per sq.ft (2024)
• Saraswathi Avenue: Rs 1,480 per sq.ft (2024)
• Radiance Smartville: Rs 2,470 per sq.ft (2024)
• Radha Nagar: Rs 1,320 per sq.ft (2024)
• Pushpagiri Salai: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganatha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, while the registration fee at 2% would be Rs 16,600, bringing the total fees together to Rs 74,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ranganatha Nagar?

The Sub Registrar Office that covers Ranganatha Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Padappai. It serves as a benchmark for determining the minimum sale price of a property and is used to calculate the stamp duty and registration fees that buyers must pay at the time of registration.

During the registration process, the guideline value ensures that the property is not undervalued, protecting both the buyer and the government’s revenue. Buyers should be aware of the guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the property transfer process.

Frequently asked questions

What is the current guideline value of Ranganatha Nagar?

The current guideline value of Ranganatha Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, reflecting an overall increase of 374% over the years.

What is the land classification of Ranganatha Nagar?

Ranganatha Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

Where can I find the registration office for Ranganatha Nagar?

The registration office for Ranganatha Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Ranganatha Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 58,100.