Guideline Value for Ranganathan Nagar Extension

Ranganathan Nagar Extension guideline value

The current guideline value of Ranganathan Nagar Extension is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Porur village and falls under the Kunrathur SRO. The land classification for this region is Residential Special Type - I.

How the guideline value of Ranganathan Nagar Extension has changed

The guideline value for Ranganathan Nagar Extension has seen several revisions over the years. The earliest recorded value in 2002 was Rs 409 per sq.ft, which increased to Rs 453 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,840 per sq.ft in 2007, and the value further increased to Rs 3,600 per sq.ft in 2012. However, there was a decline to Rs 2,412 per sq.ft in 2017. The guideline value then rose to Rs 3,600 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,960 per sq.ft.

The changes between revisions indicate a +10% increase from 2023 to 2024, a +49% increase from 2017 to 2023, a -33% decrease from 2012 to 2017, a +96% increase from 2007 to 2012, a +306% increase from 2003 to 2007, and an +11% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by +868%.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, and Ranganathan Nagar Extension's 2024 figure aligns with this median.

• Ranganathan Nagar Kanniappan Street: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street - 2nd Lane: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street Ist Lane: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Rajaji Street: Rs 3,520 per sq.ft (2024)
• Ranganathan Street: Rs 3,520 per sq.ft (2024)
• Rathinam Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees together to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ranganathan Nagar Extension?

The Sub Registrar Office that covers Ranganathan Nagar Extension is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Porur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This helps in accurately assessing the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Ranganathan Nagar Extension?

The current guideline value of Ranganathan Nagar Extension is Rs 3,960 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 409 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, showing an overall increase of +868% over the years.

What is the land classification for Ranganathan Nagar Extension?

The land classification for Ranganathan Nagar Extension is Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 39,60,000, the stamp duty is Rs 2,77,200 and the registration fee is Rs 79,200, totaling Rs 3,56,400.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.