Guideline Value for Ranganathapuram 2ndCross Street

Ranganathapuram 2ndCross Street guideline value

The current guideline value of Ranganathapuram 2ndCross 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 2ndCross Street has changed

The guideline value for Ranganathapuram 2ndCross Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 340%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Ranganathapuram 2ndCross Street.

• Ranganathapuram 1st Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 1stCross 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 2ndCross 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 is charged at 7%, which equals Rs 2,31,000, and the registration fee at 2% amounts to Rs 66,000. Together, the total cost for these fees is 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranganathapuram 2ndCross Street?

The Ranganathapuram 2ndCross Street falls under 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 crucial factor in the registration of property transactions in Tambaram. It is used to determine the stamp duty and registration fees that must be paid during the transfer of ownership. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. This ensures that both parties are aware of the financial implications of the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Ranganathapuram 2ndCross Street?

The current guideline value of Ranganathapuram 2ndCross 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, with various revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the land classification for Ranganathapuram 2ndCross Street?

Ranganathapuram 2ndCross Street is classified as Residential Class I Type - I.

Which Sub Registrar Office covers this street?

The Tambaram Joint 1 Sub Registrar Office covers Ranganathapuram 2ndCross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft incurs a total guideline value of Rs 33,00,000.