Guideline Value for Sri Ranga Avenue

Sri Ranga Avenue guideline value

The current guideline value of Sri Ranga Avenue is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Ranga Avenue has changed

The guideline value for Sri Ranga Avenue has seen several revisions over the years. In 2007, the value was Rs 1,450 per sq.ft, which increased to Rs 2,300 per sq.ft in 2012, marking a 59% rise. However, it decreased by 33% to Rs 1,541 per sq.ft in 2017. The value then rose significantly to Rs 2,300 per sq.ft in 2023, reflecting a 49% increase. As of the latest 2024 revision, the guideline value is Rs 2,530 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 74%.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Sri Ranga Avenue's 2024 figure below that median.

• Sri Thirumurugan nagar: Rs 2,970 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Subhasri Nagar: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension I: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension II: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar Extension III: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranga Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total charges Rs 2,27,700. It is important to 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 on applicable fees.

Which Sub Registrar Office covers Sri Ranga Avenue?

The Sub Registrar Office that covers Sri Ranga Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Mogalivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This value is established by the Registration Department and is updated periodically based on various factors.

During registration, the buyer must ensure that the property is valued at least at the guideline value to comply with legal requirements. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Ranga Avenue?

The current guideline value of Sri Ranga Avenue is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,450 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 74% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property with a guideline value of Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles registrations for Sri Ranga Avenue?

The Kunrathur Sub Registrar Office handles registrations for Sri Ranga Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value in Mogalivakkam?

The median guideline value for streets in Mogalivakkam is Rs 2,970 per sq.ft, while Sri Ranga Avenue's value is below this median at Rs 2,530 per sq.ft.