Guideline Value for Sri Ranganathaswamy 2nd Street

Sri Ranganathaswamy 2nd Street guideline value

The current guideline value of Sri Ranganathaswamy 2nd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal Sub Registrar Office. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Ranganathaswamy 2nd Street has changed

The guideline value for Sri Ranganathaswamy 2nd Street has seen significant changes over the years. In the 2003 revision, the guideline value was Rs 312 per sq.ft, which increased to Rs 895 per sq.ft in 2007. The 2017 revision saw a further rise to Rs 1,474 per sq.ft, and by the 2023 revision, it reached Rs 2,200 per sq.ft. The current 2024 revision shows an increase to Rs 2,420 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 676%. Notably, there are no figures available for the years 2002 and 2012 in the register for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value. The values range from Rs 1,320 to Rs 6,240 per sq.ft, with the median being Rs 2,420 per sq.ft. Sri Ranganathaswamy 2nd Street's 2024 figure aligns with this median.

• Sri Ranganathaswamy 1st 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 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value amounts to 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, totaling Rs 2,17,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Ranganathaswamy 2nd Street?

The Sri Ranganathaswamy 2nd Street falls under 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 plays a crucial role during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Ranganathaswamy 2nd Street?

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

How has the guideline value changed over the years?

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

What are the registration fees for property in Sri Ranganathaswamy 2nd Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Pammal Sub Registrar Office covers Sri Ranganathaswamy 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Sri Ranganathaswamy 2nd Street?

The land classification for Sri Ranganathaswamy 2nd Street is Residential Class I Type - I.