Guideline Value for Sri Ranga Nagar

Sri Ranga Nagar guideline value

The current guideline value of Sri Ranga Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Ranga Nagar has changed

The guideline value for Sri Ranga Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 215 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, there was a decrease to Rs 469 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 700 per sq.ft, and there was no change in the 2024 revision, keeping it at Rs 700 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 226%. The change from 2017 to 2023 was an increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The significant rise from 2007 to 2012 was 226%.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the guideline value of Sri Ranga Nagar.

• Sri Ranga Nagar Part-III: Rs 700 per sq.ft (2024)
• Sri Sakthivelan Nagar: Rs 700 per sq.ft (2024)
• Sri Velan Nagar: Rs 2,389 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 700 per sq.ft (2024)
• SRI KRCNagar: Rs 1,600 per sq.ft (2024)
• Sri Iyyappa Nagar: Rs 700 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost for these fees Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kayirambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Ranga Nagar?

The current guideline value of Sri Ranga Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 215 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and remained at Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Sri Ranga Nagar?

The land classification for Sri Ranga Nagar is Residential Special Type - II.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, leading to specific fees based on that value.