Guideline Value for Sri Ranganayaki Nagar

Sri Ranganayaki Nagar guideline value

The current guideline value of Sri Ranganayaki Nagar, located in Mudichur village under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Ranganayaki Nagar has changed

The guideline value for Sri Ranganayaki Nagar has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2012 to 2024 reflects a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Sri Ranganayaki Nagar.

• Sriranga Nagar: Rs 2,200 per sq.ft (2024)
• Srisai Nagar: Rs 1,760 per sq.ft (2024)
• Sri Varadaraja Perumal Nagar: Rs 1,210 per sq.ft (2024)
• Srinivasa Nagar: Rs 3,630 per sq.ft (2024)
• Sri Ishwaryam Garden: Rs 1,760 per sq.ft (2024)
• Sri Durga Avenue: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranganayaki Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential to note that the 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 Ranganayaki Nagar?

The Sub Registrar Office that covers Sri Ranganayaki Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the stamp duty 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 Ranganayaki Nagar?

The current guideline value of Sri Ranganayaki Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sri Ranganayaki Nagar?

The land classification for Sri Ranganayaki Nagar is Residential Special Type - I.

Where can I find the Sub Registrar Office for Sri Ranganayaki Nagar?

The Sub Registrar Office for Sri Ranganayaki Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mudichur?

Stamp duty for properties in Mudichur is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at a guideline value of Rs 2,200 per sq.ft would have a total guideline value of Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.