Guideline Value for Ranganathan Street

Ranganathan Street guideline value

The current guideline value of Ranganathan Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO, classified as Residential Class I Type - I.

How the guideline value of Ranganathan Street has changed

Over the years, the guideline value of Ranganathan Street has experienced several revisions. The earliest recorded figure is from 2007, where the value was Rs 945 per sq.ft. This increased significantly by 535% to Rs 6,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 4,020 per sq.ft. The most recent revision in 2024 shows a substantial increase of 64%, bringing the value to Rs 6,600 per sq.ft.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 in the register for Ranganathan Street. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 598%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Ranganathan Street.

• Rasool Omar Bahadur 1st Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 2nd Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 3rd Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 4th Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 5th Lane (Street): Rs 6,600 per sq.ft (2024)
• Rasool Omar Bahadur 6th Lane (Street): Rs 6,600 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 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total fees together Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more details.

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

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

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property 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 6,600 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 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 598% over this period.

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

Other streets in Triplicane with the same 2024 guideline value of Rs 6,600 per sq.ft include Rasool Omar Bahadur 1st Lane, 2nd Lane, 3rd Lane, 4th Lane, 5th Lane, and 6th Lane.

What fees are associated with buying property in Ranganathan Street?

When buying property in Ranganathan Street, the buyer must pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ranganathan Street located?

The Sub Registrar Office for Ranganathan Street is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.