Guideline Value for Ranjith Avenue

Ranjith Avenue guideline value

The current guideline value of Ranjith Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Ranjith Avenue has changed

The guideline value for Ranjith Avenue has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,600 per sq.ft. This was followed by a decrease to Rs 2,412 per sq.ft in 2017. The 2023 revision increased the value to Rs 3,600 per sq.ft, and the current 2024 revision has raised it further to Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Ranjith Avenue's 2024 figure above this median.

• Ranganayagi Street: Rs 1,650 per sq.ft (2024)
• R.K.Nagar: Rs 2,310 per sq.ft (2024)
• R.M.K. Nagar: Rs 3,960 per sq.ft (2024)
• Rooby Flats: Rs 2,640 per sq.ft (2024)
• Royal Avenue: Rs 1,980 per sq.ft (2024)
• Ramaraj Avenue: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Ranjith Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,960 per sq.ft, the guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, totaling Rs 3,56,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranjith Avenue?

The Sub Registrar Office covering Ranjith Avenue is 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 Perungalathur

The guideline value is a crucial factor during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with legal and financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Ranjith Avenue?

The current guideline value of Ranjith Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What is the land classification of Ranjith Avenue?

Ranjith Avenue is classified as Commercial Class I Type - I.

Where can I find the registration office for Ranjith Avenue?

The registration office for Ranjith Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Ranjith Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.