Guideline Value for Renganathan Street

Renganathan Street guideline value

The current guideline value of Renganathan Street is Rs 2,400 per sq.ft. 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 has changed

The guideline value of Renganathan Street has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, this figure dropped to Rs 1,474 per sq.ft in 2017. The 2023 revision set the value at Rs 2,200 per sq.ft, which was then raised to Rs 2,400 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the guideline value rose by 9%. Overall, from 2007 to 2024, the guideline value has increased by 433%. The register has no figure for Renganathan Street for the years 2002 and 2003.

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. The median value for these streets is Rs 2,200 per sq.ft, placing Renganathan Street's 2024 figure above that median.

• Renganathan Nagar: Rs 3,500 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value would be 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, totaling Rs 2,16,000. It is important to note that 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 information.

Which Sub Registrar Office covers Renganathan Street?

The Sub Registrar Office that covers Renganathan 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 details.

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

The guideline value is a critical factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring that the government receives the appropriate stamp duty and registration fees.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees based on the property's value. This process ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Renganathan Street?

The current guideline value of Renganathan Street 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 450 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 433% over this period.

What is the land classification for Renganathan Street?

Renganathan Street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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 the stamp duty calculated for properties in Renganathan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,68,000.