Guideline Value for SRI RANGANATHA NAGAR EXTENSION

Sri Ranganatha Nagar Extension guideline value

The current guideline value of Sri Ranganatha Nagar Extension is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Ranganatha Nagar Extension has changed

Over the years, the guideline value of Sri Ranganatha Nagar Extension has seen several revisions. The earliest available figure is from 2012, which was Rs 1,700 per sq.ft. This was followed by a decrease to Rs 1,139 per sq.ft in 2017. The value then increased to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,800 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%. The change from 2023 to 2024 reflects a 6% increase, leading to an overall increase of 6% from 2012 to 2024.

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, with a median value of Rs 2,200 per sq.ft. The guideline value of Sri Ranganatha Nagar Extension is below this median.

• Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar: Rs 1,800 per sq.ft (2024)
• Sri Renganatha Nagar: Rs 3,500 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase II: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase I: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Ext: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar 1 to 4th Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranganatha Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty, charged at 7%, would amount to Rs 1,26,000, while the registration fee at 2% would be Rs 36,000. Together, the total cost would be Rs 1,62,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ranganatha Nagar Extension?

The Sri Ranganatha Nagar Extension falls under 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 an essential factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately in the government records.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the property's value in the market.

Frequently asked questions

What is the current guideline value of Sri Ranganatha Nagar Extension?

The current guideline value of Sri Ranganatha Nagar Extension is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,800 per sq.ft in 2024.

What is the land classification for Sri Ranganatha Nagar Extension?

Sri Ranganatha Nagar Extension is classified as Residential Class II Type - I, indicating its suitability 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 are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 1,800 per sq.ft would incur a total guideline value of Rs 18,00,000.