Guideline Value for Rani Nagar Extn.

Rani Nagar Extn. guideline value

The current guideline value of Rani Nagar Extn. is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Rani Nagar Extn. has changed

Since the 2012 revision, the guideline value for Rani Nagar Extn. has seen various changes. In 2012, the guideline value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 800 per sq.ft. The most recent revision in 2024 saw another increase of 10%, setting the current guideline value at Rs 880 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. Rani Nagar Extn.'s current guideline value of Rs 880 per sq.ft is above this median.

• Rani Nagar: Rs 880 per sq.ft (2024)
• Rani Avenue: Rs 880 per sq.ft (2024)
• Rangarajan Nagar: Rs 880 per sq.ft (2024)
• Rathna Garden: Rs 1,600 per sq.ft (2024)
• R.R.Nagar: Rs 880 per sq.ft (2024)
• R.R .Nagar Extn.: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total 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, bringing the total fees to 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 Rani Nagar Extn.?

The Sub Registrar Office that covers Rani Nagar Extn. is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kovilpathagai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Rani Nagar Extn.?

The current guideline value of Rani Nagar Extn. 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 finally to Rs 880 per sq.ft in 2024.

What is the land classification for Rani Nagar Extn.?

The land classification for Rani Nagar Extn. is Residential Class II Type - I.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Rani Nagar Extn.?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the stamp duty would be Rs 61,600.