Guideline Value for Ranganathan Street

Ranganathan Street guideline value

The current guideline value of Ranganathan Street in Issa Pallavaram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Mixed Type - II land.

How the guideline value of Ranganathan Street has changed

The guideline value for Ranganathan Street has seen several revisions over the years. In 2003, the value was Rs 832 per sq.ft. This increased to Rs 1,750 per sq.ft in 2007, marking a significant rise of 110%. The value then jumped to Rs 4,000 per sq.ft in 2012, reflecting a 129% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 429%. It is important to note that the register has no figure for Ranganathan Street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Ranganathan Street's 2024 figure above this median.

• Ramaswamy Kuttai Street: Rs 2,200 per sq.ft (2024)
• Railway Station Road: Rs 4,950 per sq.ft (2024)
• Railway Station Cross Street: Rs 4,950 per sq.ft (2024)
• Railway Colony: Rs 3,300 per sq.ft (2024)
• Purusothaman Street: Rs 3,300 per sq.ft (2024)
• Pudu Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranganathan Street?

The Sub Registrar Office that covers Ranganathan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Issa Pallavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The value ensures that the government receives appropriate revenue from property transactions.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures a fair assessment of property transactions and helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Ranganathan Street?

The current guideline value of Ranganathan Street is Rs 4,400 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 832 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 429% over the years.

What is the land classification of Ranganathan Street?

Ranganathan Street is classified as Mixed Type - II land according to the guidelines set by the Pallavaram SRO.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.