Guideline Value for Ranjith Road

Ranjith Road guideline value

The current guideline value of Ranjith Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This road is located in Adayar village, under the Adayar SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Ranjith Road has changed

Over the years, the guideline value of Ranjith Road has seen significant changes. The 2007 revision recorded a value of Rs 6,000 per sq.ft, which increased to Rs 10,000 per sq.ft in 2012. However, the value then decreased to Rs 6,700 per sq.ft in 2017. The 2023 revision brought the value up to Rs 10,000 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 11,000 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 67% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 83%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. The guideline value of Ranjith Road is above this median, reflecting its commercial classification.

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

Stamp duty and registration fee for property in Ranjith Road

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to Rs 9,90,000. 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 details.

Which Sub Registrar Office covers Ranjith Road?

The Sub Registrar Office that covers Ranjith Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Adayar. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately with the government.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the financial obligations during the registration process. Knowing the guideline value helps in understanding the overall cost involved in property transactions.

Frequently asked questions

What is the current guideline value of Ranjith Road?

The current guideline value of Ranjith Road is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the land classification of Ranjith Road?

Ranjith Road is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where is the Adayar Sub Registrar Office located?

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 at 7%.