Guideline Value for Sri Ranganathaswamy 1st Street

Sri Ranganathaswamy 1st Street guideline value

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

How the guideline value of Sri Ranganathaswamy 1st Street has changed

The guideline value for Sri Ranganathaswamy 1st Street has seen significant changes over the years. In 2003, the guideline value was Rs 312 per sq.ft, which increased to Rs 810 per sq.ft in 2007. The 2017 revision raised it further to Rs 1,474 per sq.ft, followed by a jump to Rs 2,200 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,420 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2012 for this street. The changes between revisions are as follows: from 2003 to 2007, there was a remarkable increase of 160%; from 2007 to 2017, the value rose by 82%; and from 2017 to 2023, it increased by 49%. Overall, from 2003 to 2024, the guideline value has surged by 676%.

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 for these streets is Rs 2,420 per sq.ft, which is equal to the guideline value of Sri Ranganathaswamy 1st Street.

• Sri Ranganathaswamy 2nd Street: Rs 2,420 per sq.ft (2024)
• Sri Ranganathan Nagar: 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 Ranganathaswamy 1st Street

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 amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost 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 Ranganathaswamy 1st Street?

Sri Ranganathaswamy 1st Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 crucial factor during property transactions in Thiruneermalai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Ranganathaswamy 1st Street?

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

How has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 312 per sq.ft to Rs 2,420 per sq.ft in 2024, marking an overall increase of 676%.

What is the land classification for Sri Ranganathaswamy 1st Street?

Sri Ranganathaswamy 1st Street is classified as Residential Class I Type - I.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at a rate of 7%.