Guideline Value for Ranganathan Street

Ranganathan Street guideline value

The current guideline value of Ranganathan Street in Hastinapuram village, under the Pallavaram SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Ranganathan Street has changed

The guideline value for Ranganathan Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft. This increased to Rs 2,700 per sq.ft in 2012, marking a rise of 170%. However, in the 2017 revision, the value decreased to Rs 1,809 per sq.ft, a decline of 33%. The value then rose to Rs 2,700 per sq.ft in the 2023 revision, and subsequently increased by 10% to the current rate of Rs 2,970 per sq.ft in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register 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 for these streets is Rs 2,970 per sq.ft, which is equal to the current guideline value of Ranganathan Street.

• Ranganathan Cross 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 Street

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

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranganathan Street?

Ranganathan Street is covered by 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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the official register. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ranganathan Street?

The current guideline value of Ranganathan 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 significantly, increasing from Rs 1,000 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, which represents a total increase of 197% over the years.

What are the other streets with the same guideline value in Hastinapuram?

Other streets in Hastinapuram with the same guideline value of Rs 2,970 per sq.ft include Ranganathan Cross Street, Rangasamy Street, Ram Pakshi Nagar, Rambakthi Nagar, and Ramanujam Street.

Where can I find the registration office for Ranganathan Street?

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

How is stamp duty calculated for properties in Ranganathan Street?

Stamp duty for properties in Ranganathan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,07,900.