Guideline Value for Ranganathapuram 5th Street

Ranganathapuram 5th Street guideline value

The current guideline value of Ranganathapuram 5th 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 5th Street has changed

Looking at the historical revisions, the guideline value for Ranganathapuram 5th Street has seen several changes. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a rise of 49%. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, 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 guideline value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Ranganathapuram 5th Street.

• Ranganathapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 6th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 7th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathapuram 5th 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 or the sale price.

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

Which Sub Registrar Office covers Ranganathapuram 5th Street?

The Sub Registrar Office that covers Ranganathapuram 5th 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 further assistance.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ranganathapuram 5th Street?

The current guideline value of Ranganathapuram 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, an increase of 10%. From 2017 to 2023, it rose from Rs 2,010 per sq.ft to Rs 3,000 per sq.ft, a 49% increase.

What is the land classification for Ranganathapuram 5th Street?

Ranganathapuram 5th Street is classified as Residential Class I Type - I. This classification is important for determining the permissible uses of the land.

Where can I find the Sub Registrar Office for Ranganathapuram 5th Street?

The Sub Registrar Office for Ranganathapuram 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees when buying or selling property. It is compared to the sale price, and the higher value is used for these calculations, ensuring the correct amount is paid to the government.