Guideline Value for Ranganathan Nagar Kanniappan Street

Ranganathan Nagar Kanniappan Street guideline value

The current guideline value of Ranganathan Nagar Kanniappan Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Ranganathan Nagar Kanniappan Street has changed

The guideline value for Ranganathan Nagar Kanniappan Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,600 per sq.ft, marking a 49% rise. The 2024 revision has further increased the value to Rs 3,960 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry 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.

• Ranganathan Nagar Extension: 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 Kanniappan Street

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, while the registration fee at 2% would be Rs 79,200. Together, the total cost for stamp duty and registration fee would be Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ranganathan Nagar Kanniappan Street?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Porur. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the actual sale price. This ensures that both the state and the buyer are protected during the transaction.

Frequently asked questions

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

The current guideline value of Ranganathan Nagar Kanniappan Street 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, reflecting a 49% increase from that year to 2023.

What is the classification of Ranganathan Nagar Kanniappan Street?

Ranganathan Nagar Kanniappan Street is classified as Residential Special Type - I under the Kunrathur SRO.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, and the registration fee is 2%. For example, for a property valued at Rs 39,60,000, the total stamp duty and registration fee would be Rs 3,56,400.

Where can I find the Sub Registrar Office for Ranganathan Nagar Kanniappan Street?

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