Guideline Value for Ranganatha puram 1st street

Ranganatha puram 1st street guideline value

The current guideline value of Ranganatha puram 1st street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ranganatha puram 1st street has changed

The guideline value for Ranganatha puram 1st street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 801 per sq.ft. This increased to Rs 883 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 1,200 per sq.ft in 2007, a change of 36%. In 2012, the value was Rs 6,500 per sq.ft, which represented a 442% increase from the previous figure. However, it decreased to Rs 4,355 per sq.ft in 2017, reflecting a 33% drop. The guideline value then rose to Rs 6,500 per sq.ft in 2023, followed by the current value of Rs 7,100 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 786%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the guideline value for Ranganatha puram 1st street.

• Rangachari Street: Rs 3,900 per sq.ft (2024)
• Rangathapuram 2nd street: Rs 7,100 per sq.ft (2024)
• Red Cross Road: Rs 13,400 per sq.ft (2024)
• Ramanathan salai: Rs 13,400 per sq.ft (2024)
• Ramanathan chetty street: Rs 11,000 per sq.ft (2024)
• RamaChandra Road: Rs 13,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganatha puram 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total cost for stamp duty and registration fee would be Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ranganatha puram 1st street?

The Sub Registrar Office that covers Ranganatha puram 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Egmore. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Ranganatha puram 1st street?

The current guideline value for Ranganatha puram 1st street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 801 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 786% over this period.

What is the stamp duty rate for properties in Ranganatha puram 1st street?

The stamp duty rate for properties in Ranganatha puram 1st street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ranganatha puram 1st street located?

The Sub Registrar Office for Ranganatha puram 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Ranganatha puram 1st street?

Ranganatha puram 1st street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.