Guideline Value for Ranjith Lane

Ranjith Lane guideline value

The current guideline value of Ranjith Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Adayar village under the Adayar SRO, classified as Residential Class I Type - I.

How the guideline value of Ranjith Lane has changed

Starting from the 2007 revision, the guideline value was Rs 3,000 per sq.ft. It then increased by 100% to Rs 6,000 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 4,020 per sq.ft, marking a decline of 33%. The value saw a significant increase of 49% to Rs 6,000 per sq.ft in 2023, and then rose by 10% to the current value of Rs 6,600 per sq.ft in 2024.

The register has no figures for the years 2002 and 2003 for Ranjith Lane. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, placing Ranjith Lane's 2024 figure above this median.

• Ranjith Cross Street [Maruthai Avenue]: Rs 6,600 per sq.ft (2024)
• Ranjith Road: Rs 11,000 per sq.ft (2024)
• River Side Road: Rs 9,900 per sq.ft (2024)
• Sanjeevarayan Pettai: Rs 10,500 per sq.ft (2024)
• Railway Colony: Rs 5,500 per sq.ft (2024)
• Sardar Patel Road: Rs 15,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ranjith Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to Rs 5,94,000. 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 Ranjith Lane?

The Sub Registrar Office covering Ranjith Lane is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Adayar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation. It is important for buyers and sellers to be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Ranjith Lane?

The current guideline value of Ranjith Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the median guideline value in Adayar?

The median guideline value in Adayar is Rs 6,100 per sq.ft, with Ranjith Lane's current value being above this median.

What are the stamp duty and registration fees for Ranjith Lane?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Ranjith Lane located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, which covers Ranjith Lane.