Guideline Value for Ranganathapuram 1stCross Street

Ranganathapuram 1stCross Street guideline value

The current guideline value for Ranganathapuram 1stCross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ranganathapuram 1stCross Street has changed

The guideline value for Ranganathapuram 1stCross Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 750 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 300% rise. However, the value then dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, before the latest increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 340%. The changes between the revisions indicate a fluctuating market, with substantial increases and decreases in value over the years.

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 for these streets is Rs 3,300 per sq.ft, which aligns with the current guideline value for Ranganathapuram 1stCross Street.

• Ranganathapuram 1st 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 1stCross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranganathapuram 1stCross Street?

The Ranganathapuram 1stCross Street is covered by 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 plays a crucial role when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the applicable duties.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately estimating the costs involved in property transactions. This value is regularly updated to reflect the current market conditions in the area.

Frequently asked questions

What is the current guideline value for Ranganathapuram 1stCross Street?

The current guideline value for Ranganathapuram 1stCross 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 750 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 340% over the years.

What is the stamp duty rate for property in Ranganathapuram 1stCross Street?

The stamp duty rate for property in Ranganathapuram 1stCross Street is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

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

How can I calculate the registration fees for property transactions?

You can calculate the registration fees for property transactions using the stamp duty and registration fee calculator available online.