Guideline Value for Sri Ranga Nagar

Sri Ranga Nagar guideline value

The current guideline value of Sri Ranga Nagar, located in Venpakkam village under the Chengleput Joint I SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Sri Ranga Nagar has changed

The guideline value for Sri Ranga Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision increased the value significantly to Rs 600 per sq.ft, and the latest 2024 revision has further increased it to Rs 660 per sq.ft, representing a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 concerning this street.

Guideline values in Venpakkam

In Venpakkam, there are 8 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, all set at Rs 660 per sq.ft, with the median also at Rs 660 per sq.ft. Sri Ranga Nagar's 2024 figure matches this median.

• Sri Vedhapureesvarar Nagar Phase 1: Rs 660 per sq.ft (2024)
• Sri Vedhapureesvarar Nagar Phase 2: Rs 660 per sq.ft (2024)
• Sri Vedhapureesvarar Nagar Phase 3: Rs 660 per sq.ft (2024)
• Saradhambal Nagar: Rs 660 per sq.ft (2024)
• GoodWill Avenue: Rs 660 per sq.ft (2024)
• Padma Nagar: Rs 660 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is calculated at 7%, which would be Rs 46,200, and the registration fee at 2% amounts to Rs 13,200. Together, the total fees would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ranga Nagar?

The Sub Registrar Office that covers Sri Ranga Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Venpakkam, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value serves as a benchmark for the sale price, ensuring that the transaction is recorded at a fair value. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Sri Ranga Nagar?

The current guideline value of Sri Ranga Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with notable changes in 2017 and 2023 revisions.

What is the land classification of Sri Ranga Nagar?

Sri Ranga Nagar falls under the Residential Special Type - I land classification, which designates it for residential purposes.

Where is the Chengleput Joint I SRO located?

The Chengleput Joint I SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Ranga Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200.