Guideline Value for Ranganathapuram 1st Street

Ranganathapuram 1st Street guideline value

The current guideline value of Ranganathapuram 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ranganathapuram 1st Street has changed

The guideline value of Ranganathapuram 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision, which marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Ranganathapuram 1st Street in the revisions from 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Ranganathapuram 1st Street.

• Ranganathapuram 1stCross Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 2ndCross Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 3rdCross Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty charged at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ranganathapuram 1st Street?

The Sub Registrar Office that covers Ranganathapuram 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Tambaram. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Ranganathapuram 1st Street?

The current guideline value of Ranganathapuram 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, indicating fluctuations over the years.

What is the classification of Ranganathapuram 1st Street?

Ranganathapuram 1st Street is classified as Residential Class I Type - I, indicating its primary use for residential purposes.

Where can I find the Tambaram Joint 1 SRO?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ranganathapuram 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.