Guideline Value for SRI RANGA NAGAR PHASE - II

Sri Ranga Nagar Phase - II guideline value

The current guideline value for Sri Ranga Nagar Phase - II is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kizhavalem village and falls under the Madurandakam SRO with a land classification of Residential Class I Type - I.

How the guideline value of Sri Ranga Nagar Phase - II has changed

Since the 2012 revision, the guideline value for Sri Ranga Nagar Phase - II has experienced several changes. In 2012, the guideline value was Rs 85 per sq.ft, which decreased to Rs 57 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 100 per sq.ft, reflecting a 75% rise. The 2023 revision maintained this value, with no change to Rs 100 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, there has been an increase of 18% in the guideline value.

Guideline values in Kizhavalem

In Kizhavalem, there are 19 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 103 per sq.ft. The guideline value for Sri Ranga Nagar Phase - II is below this median.

• Sri Ranga Nagar: Rs 101 per sq.ft (2024)
• Sriram Nagar: Rs 120 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 103 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 400 per sq.ft (2024)
• Sri Vinayaga Nagar: Rs 103 per sq.ft (2024)
• Sri Balaji Associates Sri Ranga Nagar State Hith Way Golden City: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranga Nagar Phase - II

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. Please 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 details.

Which Sub Registrar Office covers Sri Ranga Nagar Phase - II?

The Sub Registrar Office that covers Sri Ranga Nagar Phase - II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kizhavalem. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sri Ranga Nagar Phase - II?

The current guideline value for Sri Ranga Nagar Phase - II is Rs 100 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 85 per sq.ft to Rs 100 per sq.ft in 2024, with a notable increase of 75% from 2017 to 2023.

Where can I find the registration office for Sri Ranga Nagar Phase - II?

The registration office for Sri Ranga Nagar Phase - II is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at Rs 100 per sq.ft incurs a total fee of Rs 9,000.

What is the land classification for Sri Ranga Nagar Phase - II?

Sri Ranga Nagar Phase - II is classified as Residential Class I Type - I, indicating its suitability for residential development.