Guideline Value for Sri Ranganathar Nagar

Sri Ranganathar Nagar guideline value

The current guideline value of Sri Ranganathar Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village and falls under the Kunrathur Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Sri Ranganathar Nagar has changed

The guideline value for Sri Ranganathar Nagar has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 850 per sq.ft. In 2017, it decreased to Rs 569 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 850 per sq.ft in 2023, followed by a further increase to Rs 935 per sq.ft in the 2024 revision, reflecting a change of 10% from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no available figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are a total of 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, which is equal to the current guideline value of Sri Ranganathar Nagar.

• Sri Ramiah Nagar: Rs 935 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Rajarajeswari Nagar: Rs 935 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 450 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,210 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranganathar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value would be Rs 9,35,000. The stamp duty at 7% would amount to Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total cost for these fees to Rs 84,150. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Ranganathar Nagar?

Sri Ranganathar Nagar is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are levied based on the established rates. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Sri Ranganathar Nagar?

The current guideline value of Sri Ranganathar Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then increased to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Sri Ranganathar Nagar?

Sri Ranganathar Nagar is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 9,35,000, the stamp duty would be Rs 65,450, and the registration fee would be Rs 18,700, totaling Rs 84,150.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.