Guideline Value for SRI RANGA NAGAR

Sri Ranga Nagar guideline value

The current guideline value of Sri Ranga Nagar, located in Kizhavalem village under the Madurandakam SRO, is Rs 101 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Sri Ranga Nagar has changed

The guideline value for Sri Ranga Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, reflecting a rise of 49%. The most recent 2024 revision has set the value at Rs 101 per sq.ft, showing a modest increase of 1% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by just 1%.

Guideline values in Kizhavalem

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

• Sri Ranga Nagar Phase - II: Rs 100 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

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, while the registration fee at 2% would be Rs 2,020. Together, the total cost for these fees would be Rs 9,090. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ranga Nagar?

The Sub Registrar Office that covers Sri Ranga Nagar 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kizhavalem. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ranga Nagar?

The current guideline value of Sri Ranga Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification for Sri Ranga Nagar?

The land classification for Sri Ranga Nagar is Mixed Type - I.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft plot would incur total fees of Rs 9,090.

Which Sub Registrar Office covers Kizhavalem?

The Madurandakam Sub Registrar Office covers Kizhavalem, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.