Guideline Value for Sri Ranga Nagar

Sri Ranga Nagar guideline value

The current guideline value of Sri Ranga Nagar is Rs 1,525 per sq.ft, effective from 1 July 2024. This street is located in Athur A Block village under the Chengleput Joint II SRO, and it falls under the Mixed Type - III land classification.

How the guideline value of Sri Ranga Nagar has changed

The guideline value for Sri Ranga Nagar has remained consistent over the last two revisions. In the 2023 revision, the guideline value was Rs 1,525 per sq.ft, and it has not changed in the 2024 revision, which also lists the value at Rs 1,525 per sq.ft. There are no figures available for this street in the revisions from 2002, 2003, 2007, 2012, and 2017.

As such, the guideline value has shown no increase from 2023 to 2024, reflecting a stable valuation for this area. The current rate is significantly above the median value of Rs 600 per sq.ft for the 44 streets in Athur A Block under the Chengleput Joint II SRO.

Guideline values in Athur A Block

Athur A Block features a range of guideline values, with the current figures for various streets reflecting a spectrum from Rs 300 to Rs 1,525 per sq.ft. Sri Ranga Nagar, at Rs 1,525 per sq.ft, is above the median value. The following are the guideline values for other streets in Athur A Block:

• Sri Ram Nagar: Rs 800 per sq.ft (2024)
• Sri Ragavandira Nagar: Rs 600 per sq.ft (2024)
• Srinivasa Avenue: Rs 500 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 600 per sq.ft (2024)
• Sri Nagar: Rs 400 per sq.ft (2024)
• Sri Malli Nathar Nagar: Rs 600 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 1,525 per sq.ft, the total guideline value amounts to Rs 15,25,000. The stamp duty, charged at 7%, would be Rs 1,06,750, while the registration fee at 2% would be Rs 30,500, bringing the total fees to Rs 1,37,250. 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 details.

Which Sub Registrar Office covers Sri Ranga Nagar?

Sri Ranga Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value is a crucial factor in the registration process of property transactions in Athur A Block. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair valuation as per government standards.

When buying or selling property, it is essential to consider the guideline value, as it influences the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Ranga Nagar?

The current guideline value of Sri Ranga Nagar is Rs 1,525 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 1,525 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the revisions from 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Athur A Block?

Other streets in Athur A Block have varying guideline values, ranging from Rs 300 to Rs 1,525 per sq.ft. Sri Ranga Nagar is positioned at the higher end of this range.

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 1,525 per sq.ft would incur a total fee of Rs 1,37,250.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the find your SRO page.