Guideline Value for Ranka Nagar

Ranka Nagar guideline value

The current guideline value of Ranka Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Ranka Nagar has changed

In the 2017 revision, the guideline value was set at Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. The current 2024 revision has maintained this value at Rs 1,000 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was an increase of 49% in the guideline value, and the overall change from 2017 to 2024 is also +49%. The guideline value has remained stable from 2023 to 2024, indicating no fluctuations in the most recent revisions.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Ranka Nagar is above this median.

• Reddy Lane: Rs 1,100 per sq.ft (2024)
• Reddy Street: Rs 1,000 per sq.ft (2024)
• Reddy Street Extn: Rs 1,100 per sq.ft (2024)
• Ramanujar V th Cross Street: Rs 1,000 per sq.ft (2024)
• Ramanujar VI th Cross Street: Rs 1,000 per sq.ft (2024)
• Ramanujar Township: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ranka Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 further calculations.

Which Sub Registrar Office covers Ranka Nagar?

The Sub Registrar Office that covers Ranka 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 Sriperumbudur A

The guideline value plays a crucial role during the registration of property transactions in Sriperumbudur A. It is used to calculate the stamp duty and registration fees that buyers need to pay when acquiring property in the area.

When a property is sold, the guideline value helps determine the minimum value on which the stamp duty is calculated, ensuring that the transaction is registered at a value that reflects the current market conditions as per the official guidelines.

Frequently asked questions

What is the current guideline value of Ranka Nagar?

The current guideline value of Ranka Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 1,000 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023.

What is the land classification for Ranka Nagar?

Ranka Nagar is classified as Residential Class II Type - I, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Ranka Nagar?

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

How is stamp duty calculated in Ranka Nagar?

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