Guideline Value for SRI RANGA GARDEN

Sri Ranga Garden guideline value

The current guideline value of Sri Ranga Garden is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Sri Ranga Garden has changed

The guideline value of Sri Ranga Garden has seen significant changes over the years. In 2002, the guideline value was Rs 330 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a rise of 82%. The value then surged to Rs 3,000 per sq.ft in 2012, representing a remarkable increase of 400%. However, it dropped to Rs 2,010 per sq.ft in 2017, which was a decrease of 33%. The value climbed again to Rs 3,000 per sq.ft in 2023, and most recently, it has risen to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 900%. It is important to note that there is no figure available for the year 2003 in the register for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, placing Sri Ranga Garden's 2024 figure above this median.

• Sri Sabari Nagar: Rs 1,600 per sq.ft (2024)
• Sri Ramalu Nagar: Rs 1,600 per sq.ft (2024)
• Sri Ragavendra Nagar Extension: Rs 2,100 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 2,100 per sq.ft (2024)
• SRINIVASAPURAM 3rd MAIN ROAD: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 3rd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranga Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 Sri Ranga Garden?

The Sub Registrar Office that covers Sri Ranga Garden is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate fees for property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Sri Ranga Garden?

The current guideline value of Sri Ranga Garden is Rs 3,300 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 330 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 900% over the years.

What is the land classification of Sri Ranga Garden?

Sri Ranga Garden is classified as Residential Special Type - III, which indicates its zoning for residential purposes.

Where can I find the Sub Registrar Office for Sri Ranga Garden?

The Sub Registrar Office covering Sri Ranga Garden is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Sri Ranga Garden?

Stamp duty for properties in Sri Ranga Garden is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.