Guideline Value for Renganathan Street 1st Lane

Renganathan Street 1st Lane guideline value

The current guideline value of Renganathan Street 1st Lane is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Renganathan Street 1st Lane has changed

The guideline value for Renganathan Street 1st Lane has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was later reduced to Rs 1,474 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,200 per sq.ft in the 2023 revision and further rose to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision reflects a modest increase of 9%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, 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. The guideline value of Renganathan Street 1st Lane is above this median.

• Renganathan Street: Rs 2,400 per sq.ft (2024)
• Renganathan Street 1st Street: Rs 2,400 per sq.ft (2024)
• Renganathan Nagar: Rs 3,500 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 Street 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the 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 Renganathan Street 1st Lane?

The Sub Registrar Office that covers Renganathan Street 1st Lane 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 more information.

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

The guideline value is a critical factor during the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale of properties in the area.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for both buyers and sellers to be aware of the current guideline values to make informed decisions.

Frequently asked questions

What is the current guideline value of Renganathan Street 1st Lane?

The current guideline value of Renganathan Street 1st Lane is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Renganathan Street 1st Lane?

Renganathan Street 1st Lane is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Renganathan Street 1st Lane?

The Sub Registrar Office for Renganathan Street 1st Lane 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 Selaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 24,00,000 would incur a stamp duty of Rs 1,68,000 at a rate of 7%.