Guideline Value for Ranganathan Street

Ranganathan Street guideline value

The current guideline value of Ranganathan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Ranganathan Street has changed

The guideline value for Ranganathan Street has seen significant changes over the years. In 2003, the value was Rs 556 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking an increase of 80%. The value then surged to Rs 4,000 per sq.ft in 2012, reflecting a remarkable increase of 300%. However, between 2012 and 2017, the value decreased by 33% to Rs 2,680 per sq.ft. This was followed by a substantial increase of 49% to Rs 4,000 per sq.ft in 2023, and finally, the current value stands at Rs 4,400 per sq.ft, a 10% increase from the previous year.

It is important to note that the register does not contain a figure for Ranganathan Street in 2002. Overall, the guideline value has increased by 691% from Rs 556 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 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.

• Rangaswamy Street: Rs 3,300 per sq.ft (2024)
• Ravi Street: Rs 2,160 per sq.ft (2024)
• Ramaswamy Street: Rs 3,520 per sq.ft (2024)
• Ramaswamy Cross Street: Rs 2,160 per sq.ft (2024)
• Rayapettai Odai 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 2nd Cross Street: Rs 2,750 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, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. The guideline value ensures that the transaction is recorded at a fair and standardized rate.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This helps in maintaining transparency and consistency in property transactions within the region.

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 increased from Rs 556 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 691% over this period.

What are the guideline values of other streets in Zaminpallavaram?

Other streets in Zaminpallavaram have varying guideline values, with rates ranging from Rs 2,160 to Rs 3,520 per sq.ft in 2024. Ranganathan Street's value is above the median of Rs 3,300 per sq.ft.

What are the stamp duty and registration fees for properties in Ranganathan Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles the registration for Ranganathan Street?

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