Guideline Value for Ranganathan Street

Ranganathan Street guideline value

The current guideline value of Ranganathan Street in Porur village, under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Ranganathan Street has changed

The guideline value for Ranganathan Street has seen several revisions over the years. In 2002, the value was Rs 176 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking a significant rise of 184%. The value further increased to Rs 750 per sq.ft in 2007, reflecting a 50% growth. By 2012, the value reached Rs 3,200 per sq.ft, which was a substantial increase of 327%. However, this value dropped by 33% to Rs 2,144 per sq.ft in 2017. The 2023 revision saw a rise to Rs 3,200 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 3,520 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1900%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a guideline value for 2024, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, positioning Ranganathan Street's 2024 figure below this median.

• Ranganathan Nagar Rajaji Street: Rs 3,520 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street Ist Lane: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street - 2nd Lane: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Kanniappan Street: Rs 3,960 per sq.ft (2024)
• Ranganathan Nagar Extension: Rs 3,960 per sq.ft (2024)
• Rathinam Nagar: Rs 3,520 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 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 plays a crucial role in property transactions in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is used to calculate the applicable taxes, ensuring that both parties adhere to the legal requirements. Therefore, understanding the guideline value is essential for anyone involved in real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Ranganathan Street?

The current guideline value of Ranganathan Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 176 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, with various revisions in between, including a significant increase of 1900% overall.

What is the land classification for Ranganathan Street?

Ranganathan Street is classified as Residential Special Type - II.

What are the stamp duty rates for properties in Ranganathan Street?

The stamp duty for properties in Ranganathan Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.