Guideline Value for Ranjeetham Nagar yovel Solomon Street

Ranjeetham Nagar yovel Solomon Street guideline value

The current guideline value for Ranjeetham Nagar yovel Solomon Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Ranjeetham Nagar yovel Solomon Street has changed

The guideline value for Ranjeetham Nagar yovel Solomon Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, an increase of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Ranjeetham Nagar yovel Solomon Street. Overall, comparing the values from 2012 to 2024, there has been a net increase of 10% in the guideline value.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the current value for Ranjeetham Nagar yovel Solomon Street below that median.

• Ranganathapuram 7th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 6th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 5th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ranjeetham Nagar yovel Solomon Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 Ranjeetham Nagar yovel Solomon Street?

The Sub Registrar Office covering Ranjeetham Nagar yovel Solomon 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 when registering property transactions in Tambaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. Buyers must be aware of this value as it directly impacts the costs involved in the transaction.

Frequently asked questions

What is the current guideline value for Ranjeetham Nagar yovel Solomon Street?

The current guideline value for Ranjeetham Nagar yovel Solomon Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot valued at Rs 1,320 per sq.ft, the total guideline value is Rs 13,20,000. The stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for this street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ranjeetham Nagar yovel Solomon Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the median guideline value in Tambaram?

The median guideline value for streets in Tambaram is Rs 3,300 per sq.ft, indicating that Ranjeetham Nagar yovel Solomon Street's value of Rs 1,320 per sq.ft is below this median.