Guideline Value for Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar

Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar guideline value

The current guideline value for Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar is Rs 1,800 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar has changed

The guideline value for Sri Ranganatha nagar Extension has seen several revisions over the years. In 2012, the guideline value was Rs 1,700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,139 per sq.ft. Following this, the value increased significantly to Rs 1,700 per sq.ft in 2023, and then to Rs 1,800 per sq.ft in the 2024 revision, representing a 6% increase from the previous year.

From 2012 to 2017, there was a notable decline of 33%. However, from 2017 to 2023, the value rose by 49%. Overall, comparing the 2012 and 2024 figures, there has been a 6% increase in the guideline value.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the Sri Ranganatha nagar Extension's 2024 figure below this median.

• Sri Ranganatha Nagar Extension: Rs 1,800 per sq.ft (2024)
• Sri Renganatha Nagar: Rs 3,500 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase II: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase I: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Ext: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar 1 to 4th Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar?

The Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the costs involved in property transactions.

Frequently asked questions

What is the current guideline value for Sri Ranganatha nagar Extension?

The current guideline value for Sri Ranganatha nagar Extension is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2012 to Rs 1,139 per sq.ft in 2017, then increased to Rs 1,700 per sq.ft in 2023 and finally to Rs 1,800 per sq.ft in 2024.

What is the registration office for this area?

The registration office covering Sri Ranganatha nagar Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 18,00,000, the stamp duty would be 7% of this amount.

What is the land classification for Sri Ranganatha nagar Extension?

Sri Ranganatha nagar Extension is classified as Residential Class II Type - I, which is important for understanding the regulations and potential uses for the property.