Guideline Value for Ranganathan Nagar Kanniappan Street Ist Lane

Ranganathan Nagar Kanniappan Street Ist Lane guideline value

The current guideline value for Ranganathan Nagar Kanniappan Street Ist Lane is Rs 3,960 per sq.ft. This street is located in Porur village under the Kunrathur SRO, and the land classification is Residential Special Type - I.

How the guideline value of Ranganathan Nagar Kanniappan Street Ist Lane has changed

The guideline value for Ranganathan Nagar Kanniappan Street Ist Lane has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,600 per sq.ft, and the most recent 2024 revision has set it at Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the overall change from the 2012 revision to the 2024 revision shows a 10% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the guideline value of Ranganathan Nagar Kanniappan Street Ist Lane.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, making the total charges 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.

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

Which Sub Registrar Office covers Ranganathan Nagar Kanniappan Street Ist Lane?

The Sub Registrar Office that covers Ranganathan Nagar Kanniappan Street Ist Lane is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering a property transaction in Porur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the expected value of the property. It is advisable for buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Ranganathan Nagar Kanniappan Street Ist Lane?

The current guideline value of Ranganathan Nagar Kanniappan Street Ist Lane 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 from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, marking a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for this street?

The land classification for Ranganathan Nagar Kanniappan Street Ist Lane is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ranganathan Nagar Kanniappan Street Ist Lane is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,60,000 would incur a stamp duty of Rs 2,77,200.