Guideline Value for Sri Ranganathan Nagar

Sri Ranganathan Nagar guideline value

The current guideline value of Sri Ranganathan Nagar, located in Thiruneermalai village under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Ranganathan Nagar has changed

The guideline value for Sri Ranganathan Nagar has seen significant changes over the years. The earliest recorded figure is from 2003, where the value was Rs 62 per sq.ft. This increased to Rs 130 per sq.ft in 2007, marking a change of +110%. By 2017, the value rose dramatically to Rs 1,474 per sq.ft, representing an increase of +1,034%. The next revision in 2023 set the value at Rs 2,200 per sq.ft, which was a +49% change from the previous figure. The most recent revision in 2024 has further increased the value to Rs 2,420 per sq.ft, reflecting a +10% change from 2023.

It is important to note that the register has no figures for the years 2002 and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, which aligns with the 2024 guideline value for Sri Ranganathan Nagar.

• Sri Ranganathaswamy 1st Street: Rs 2,420 per sq.ft (2024)
• Sri Ranganathaswamy 2nd Street: Rs 2,420 per sq.ft (2024)
• Sripuram 3rd Street: Rs 3,080 per sq.ft (2024)
• Sripuram 2nd Street: Rs 3,080 per sq.ft (2024)
• Sripuram 1st Street: Rs 3,080 per sq.ft (2024)
• Sri Sivaparvathi Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranganathan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400. Together, the total fees would amount to Rs 2,17,800. 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 Ranganathan Nagar?

The Sub Registrar Office that covers Sri Ranganathan Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a critical factor when registering property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value will influence the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sri Ranganathan Nagar?

The current guideline value of Sri Ranganathan Nagar is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 62 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, reflecting an overall increase of +3,803% over the years.

What are the stamp duty rates for properties in Sri Ranganathan Nagar?

The stamp duty rate for properties in Sri Ranganathan Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Thiruneermalai?

The Pammal Sub Registrar Office handles property registrations in Thiruneermalai, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Where can I find more information about guideline values in Thiruneermalai?

For more information about guideline values in Thiruneermalai, you can refer to the Registration Department's guideline value register (TNReginet) or consult the local Sub Registrar Office.