Guideline Value for SRI RANIBAI NAGAR

Sri Ranibai Nagar guideline value

The current guideline value of Sri Ranibai Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Panaveduthottam village under the Poonamallee SRO and is classified as Residential Special Type - II.

How the guideline value of Sri Ranibai Nagar has changed

As per the registration department's records, the guideline value for Sri Ranibai Nagar has seen revisions over the years. The 2017 revision registered a value of Rs 402 per sq.ft, which remained unchanged through the 2023 revision. The 2024 revision marks an increase to Rs 440 per sq.ft, reflecting a 9% rise from the previous year.

Prior to the 2017 revision, the register has no figures for the years 2002, 2003, 2007, and 2012. Therefore, the overall change from the 2017 revision to the 2024 revision is also a 9% increase.

Guideline values in Panaveduthottam

In Panaveduthottam village, there are three streets under the Poonamallee SRO that have a 2024 guideline value, ranging from Rs 440 to Rs 2,750 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Sri Ranibai Nagar's 2024 figure below that median.

• Rr Aishwaryam: Rs 2,750 per sq.ft (2024)
• Isha Swarnabhoomi: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranibai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 more detailed calculations.

Which Sub Registrar Office covers Sri Ranibai Nagar?

The Sub Registrar Office that covers Sri Ranibai Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Panaveduthottam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. This ensures that the transaction is recorded accurately and complies with local regulations.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This practice helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sri Ranibai Nagar?

The current guideline value of Sri Ranibai Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 402 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, marking a 9% rise. The value remained unchanged from 2017 to 2023.

What are the other streets in Panaveduthottam with guideline values?

Other streets in Panaveduthottam include Rr Aishwaryam and Isha Swarnabhoomi, both of which have a guideline value of Rs 2,750 per sq.ft in 2024.

How is the stamp duty calculated for properties in Sri Ranibai Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 30,800.

Where can I find the Sub Registrar Office for Sri Ranibai Nagar?

The Sub Registrar Office for Sri Ranibai Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find more information about it online.