Guideline Value for Ranji Nagar

Ranji Nagar guideline value

The current guideline value of Ranji Nagar, located in Nallur village under the Sriperumpudur SRO, is Rs 126 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Ranji Nagar has changed

In the 2007 revision, the guideline value was set at Rs 100 per sq.ft. It increased to Rs 125 per sq.ft in 2012, marking a growth of 25%. However, the 2017 revision saw a significant drop to Rs 84 per sq.ft, reflecting a decrease of 33%. The value then rose by 50% to Rs 126 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

There are no figures available for the 2002 and 2003 revisions for this street. Overall, from 2007 to 2024, the guideline value has increased by 26%.

Guideline values in Nallur

In Nallur, there are 33 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 126 to Rs 700 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of Ranji Nagar is below this median.

• Ramakrishna Nagar: Rs 200 per sq.ft (2024)
• S.D. Nagar: Rs 350 per sq.ft (2024)
• Siva Sakthi Nagar: Rs 150 per sq.ft (2024)
• S.R. Garden: Rs 150 per sq.ft (2024)
• Sri Balaji Nagar: Rs 250 per sq.ft (2024)
• Sri Balaji Nagar Part-I: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Ranji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 126 per sq.ft, the total guideline value amounts to Rs 1,26,000. The stamp duty, charged at 7%, would be Rs 8,820, and the registration fee at 2% would be Rs 2,520. Together, the total fees would be Rs 11,340. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranji Nagar?

The Sub Registrar Office that covers Ranji Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Nallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a buyer approaches the registration office, the guideline value ensures that the transaction is recorded at a fair rate, aligning with the official rates set by the government. This helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ranji Nagar?

The current guideline value of Ranji Nagar is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 100 per sq.ft in 2007, rising to Rs 125 in 2012, dropping to Rs 84 in 2017, and then increasing to Rs 126 in both 2023 and 2024.

What is the land classification of Ranji Nagar?

Ranji Nagar is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 11,340.

Where is the Sub Registrar Office for Ranji Nagar located?

The Sub Registrar Office for Ranji Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.