Guideline Value for Renganathan Street 1st Street

Renganathan Street 1st Street guideline value

The current guideline value for Renganathan Street 1st Street 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 Street has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,474 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 2,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Renganathan Street 1st Street's 2024 figure above this median.

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

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, while the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Renganathan Street 1st Street?

The Sub Registrar Office covering Renganathan Street 1st Street 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 in the property registration process in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the authorities will assess the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value for Renganathan Street 1st Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back 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 for Renganathan Street 1st Street?

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

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office 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 on Renganathan Street 1st Street?

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