Guideline Value for Sri Renga Nagar

Sri Renga Nagar guideline value

The current guideline value of Sri Renga Nagar, located in Pullilyon village under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Renga Nagar has changed

The guideline value for Sri Renga Nagar has seen significant changes over the years. In 2003, the value was Rs 70 per sq.ft, which increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 471%. The value then rose to Rs 700 per sq.ft in 2012, but this was a decrease of 33% from the previous revision. In 2017, the value increased to Rs 469 per sq.ft, and by 2023, it reached Rs 700 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 770 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figure for Sri Renga Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1000%, showcasing a significant upward trend over the years.

Guideline values in Pullilyon

In Pullilyon village, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for Sri Renga Nagar is above this median.

• Sri Renga Co-Operative Nagar: Rs 770 per sq.ft (2024)
• Sri Ranga Co-operative Society Nagar: Rs 770 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 550 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 440 per sq.ft (2024)
• Sri Selva Vinayar Nagar Annex: Rs 550 per sq.ft (2024)
• Sri Thirumalai Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Renga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Renga Nagar?

The Sub Registrar Office that covers Sri Renga Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Pullilyon. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements.

When a property is registered, the guideline value is considered either the sale price or the guideline value, whichever is higher. This ensures that the government receives the appropriate fees based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sri Renga Nagar?

The current guideline value of Sri Renga Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, showing an overall increase of 1000% over the years.

What are the stamp duty and registration fees for property in Sri Renga Nagar?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Sri Renga Nagar?

The Redhills Sub Registrar Office covers Sri Renga Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Sri Renga Nagar?

Sri Renga Nagar falls under the Residential Class I Type - I land classification.