Guideline Value for Renganathan Nagar

Renganathan Nagar guideline value

The current guideline value of Renganathan Nagar is Rs 3,500 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - IV.

How the guideline value of Renganathan Nagar has changed

The guideline value for Renganathan Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 3,300 per sq.ft. This was followed by a decrease in 2017 to Rs 2,211 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 3,300 per sq.ft, and in 2024, it rose again to Rs 3,500 per sq.ft, reflecting a 6% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Renganathan Nagar's current 2024 figure is above this median.

• Renganathan Street: Rs 2,400 per sq.ft (2024)
• Renganathan Street 1st Lane: Rs 2,400 per sq.ft (2024)
• Renganathan Street 1st Street: Rs 2,400 per sq.ft (2024)
• Ricky Garden: Rs 2,400 per sq.ft (2024)
• Ruby School Street: Rs 2,420 per sq.ft (2024)
• Ramasamy Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Renganathan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Renganathan Nagar?

The Sub Registrar Office that covers Renganathan Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions. This helps in avoiding any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Renganathan Nagar?

The current guideline value of Renganathan Nagar is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,500 per sq.ft in 2024, reflecting a 6% increase. It decreased from Rs 3,300 in 2012 to Rs 2,211 in 2017, then increased again to Rs 3,300 in 2023.

What is the land classification of Renganathan Nagar?

Renganathan Nagar is classified as Residential Special Type - IV, which indicates its intended use for residential purposes.

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

The Sub Registrar Office for Renganathan Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Renganathan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,00,000, the stamp duty at 7% would be Rs 2,45,000.