Guideline Value for Renganathan Street

Renganathan Street guideline value

The current guideline value of Renganathan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Renganathan Street has changed

The guideline value for Renganathan Street has seen significant changes over the years. In 2002, the value was Rs 491 per sq.ft, which increased to Rs 551 per sq.ft in 2003, marking a 12% rise. The value further escalated to Rs 2,680 per sq.ft in 2017, reflecting a substantial 386% increase from the 2003 figure. However, there are no recorded figures for the years 2007 and 2012.

From 2017 to 2023, the guideline value increased by 49%, reaching Rs 4,000 per sq.ft. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year. Overall, the guideline value has risen by 796% from 2002 to 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Renganathan Street.

• Rettaipillaiyar Koil Street: Rs 4,950 per sq.ft (2024)
• Revenue Road 1st Street: Rs 3,850 per sq.ft (2024)
• Revenue Road 2nd Street: Rs 3,850 per sq.ft (2024)
• Revenue Road 3rd Street: Rs 3,850 per sq.ft (2024)
• Ravi Street: Rs 4,400 per sq.ft (2024)
• Rani Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Renganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Renganathan Street?

The Sub Registrar Office that covers Renganathan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Velachery. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Renganathan Street?

The current guideline value of Renganathan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 491 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 796%.

Which Sub Registrar Office is responsible for Renganathan Street?

The Velacheri Sub Registrar Office is responsible for Renganathan Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty and registration fees for property in Renganathan Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find more information about guideline values in Velachery?

More information about guideline values in Velachery can be found through the Velacheri SRO or by checking the registration department's guideline value register.