Guideline Value for Ranganathan Cross Street

Ranganathan Cross Street guideline value

The current guideline value of Ranganathan Cross Street is Rs 2,970 per sq.ft. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ranganathan Cross Street has changed

The guideline value for Ranganathan Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 170% rise. However, the value decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 2,700 per sq.ft, and the latest revision in 2024 set the current guideline value at Rs 2,970 per sq.ft, reflecting a 10% increase 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 197%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value is Rs 2,970 per sq.ft, making the current value of Ranganathan Cross Street equal to this median.

• Ranganathan Street: Rs 2,970 per sq.ft (2024)
• Rangasamy Street: Rs 2,970 per sq.ft (2024)
• Ram Pakshi Nagar: Rs 2,970 per sq.ft (2024)
• Rambakthi Nagar: Rs 2,970 per sq.ft (2024)
• Ramaswamy Street (Dikshither Nagar): Rs 1,650 per sq.ft (2024)
• Ramanujam Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ranganathan Cross Street?

The Sub Registrar Office that covers Ranganathan Cross 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 information.

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

When buying or selling property in Hastinapuram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is established by the government and is used to assess the value of the property for taxation purposes during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall costs involved in property transactions. Ensuring that the property is registered at the correct guideline value helps in compliance with local regulations and avoids potential legal issues.

Frequently asked questions

What is the current guideline value of Ranganathan Cross Street?

The current guideline value of Ranganathan Cross Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, showing an overall increase of 197% over the years.

What is the land classification for Ranganathan Cross Street?

Ranganathan Cross Street is classified as Residential Class I Type - I, which is important for determining the applicable guidelines and regulations for property transactions.

Where is the Pallavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in Ranganathan Cross Street?

Stamp duty for properties in Ranganathan Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additional registration fees are charged at 2% of the guideline value.