Guideline Value for Ranganathapuram Colony Extn I to III

Ranganathapuram Colony Extn I to III guideline value

The current guideline value for Ranganathapuram Colony Extn I to III is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Ranganathapuram Colony Extn I to III has changed

The guideline value for Ranganathapuram Colony Extn I to III has undergone several revisions over the years. Starting from the 2012 revision, the guideline value was Rs 800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 536 per sq.ft. However, the 2023 revision marked a significant increase to Rs 800 per sq.ft, followed by the current figure of Rs 880 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, which is equal to the 2024 guideline value for Ranganathapuram Colony Extn I to III.

• Ranganathapuram: Rs 880 per sq.ft (2024)
• R.M..G.Nagar: Rs 990 per sq.ft (2024)
• R.M.K. Nagar: Rs 990 per sq.ft (2024)
• Ramani Iyer Nagar: Rs 440 per sq.ft (2024)
• Sabari Nagar: Rs 880 per sq.ft (2024)
• Ramakrishna Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Ranganathapuram Colony Extn I to III

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranganathapuram Colony Extn I to III?

The Ranganathapuram Colony Extn I to III falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nandambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair transaction base. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Ranganathapuram Colony Extn I to III?

The current guideline value for Ranganathapuram Colony Extn I to III is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and is currently Rs 880 per sq.ft in 2024.

What is the land classification for Ranganathapuram Colony Extn I to III?

The land classification for Ranganathapuram Colony Extn I to III is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ranganathapuram Colony Extn I to III is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fee would amount to Rs 79,200.