Guideline Value for Ranganathan Street Ganesh Nagar

Ranganathan Street Ganesh Nagar guideline value

The current guideline value of Ranganathan Street Ganesh Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Ranganathan Street Ganesh Nagar has changed

The guideline value for Ranganathan Street Ganesh Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from Rs 2,345 per sq.ft in the 2017 revision. The value remained at Rs 3,500 per sq.ft until the 2023 revision, which increased it to Rs 3,500 per sq.ft, marking a significant rise of 49% over the previous figure. The latest revision in 2024 has further increased the guideline value to Rs 3,850 per sq.ft, reflecting a 10% rise from the 2023 figure.

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 the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that Ranganathan Street Ganesh Nagar's 2024 figure is below this median.

• Ranganathan Street, Gokulam Colony: Rs 4,400 per sq.ft (2024)
• Rani Street: Rs 4,400 per sq.ft (2024)
• Ram Nagar Pump House Salai: Rs 4,400 per sq.ft (2024)
• Ram Nagar Pillaiyar Koil Street: Rs 4,400 per sq.ft (2024)
• Ram Nagar North Extn Main Road: Rs 4,400 per sq.ft (2024)
• Ram Nagar North Extn 7th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathan Street Ganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. 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 more information.

Which Sub Registrar Office covers Ranganathan Street Ganesh Nagar?

The Sub Registrar Office that covers Ranganathan Street Ganesh Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be sold and is used to calculate stamp duty and registration fees during the registration process.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the costs involved in the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Ranganathan Street Ganesh Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, a 10% increase. It was Rs 3,500 per sq.ft in 2012 and Rs 2,345 per sq.ft in 2017, showing significant changes over the years.

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, which indicates that Ranganathan Street Ganesh Nagar's current value is below this median.

What are the stamp duty and registration fees for property in Ranganathan Street Ganesh Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty at 7% is Rs 2,69,500, and the registration fee at 2% is Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Ranganathan Street Ganesh Nagar?

The Velacheri Sub Registrar Office handles registrations for Ranganathan Street Ganesh Nagar, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.