Guideline Value for Ranjini Nagar

Ranjini Nagar guideline value

The current guideline value of Ranjini Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,190 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Ranjini Nagar has changed

Over the years, the guideline value of Ranjini Nagar has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft, which increased dramatically to Rs 2,900 per sq.ft in the 2012 revision, marking a rise of 625%. However, it then decreased to Rs 1,943 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 2,900 per sq.ft in 2023, followed by a further increase to Rs 3,190 per sq.ft in 2024, which is a 10% rise from the previous year. The register has no figures for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 698%, reflecting the changes in the property landscape over the years.

Guideline values in Madanandapuram

In Madanandapuram, there are 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. The guideline value of Ranjini Nagar is below this median.

• Ramya Nagar Extension II: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension: Rs 3,960 per sq.ft (2024)
• Ramya Nagar: Rs 3,960 per sq.ft (2024)
• Ramji Nagar: Rs 3,190 per sq.ft (2024)
• Ramakrishna Nagar: Rs 3,190 per sq.ft (2024)
• Ramachandra Nagar: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Ranjini Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, making the total cost for stamp duty and registration fees Rs 2,87,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ranjini Nagar?

The Sub Registrar Office that covers Ranjini Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madanandapuram. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is registered, the guideline value serves as a benchmark for valuation. It ensures that the transaction is recorded at a fair value, which is essential for tax purposes and maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ranjini Nagar?

The current guideline value of Ranjini Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, representing an overall increase of 698% over the years.

What is the land classification for Ranjini Nagar?

Ranjini Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Ranjini Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,87,100, based on the current guideline value of Rs 31,90,000.

Which office registers properties in Ranjini Nagar?

The Kunrathur Sub Registrar Office is responsible for registering properties in Ranjini Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.