Guideline Value for Sri Renganatha Nagar

Sri Renganatha Nagar guideline value

The current guideline value of Sri Renganatha Nagar is Rs 3,500 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - IV.

How the guideline value of Sri Renganatha Nagar has changed

The guideline value for Sri Renganatha Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 450 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, marking a substantial rise of 633%. However, in 2017, the value decreased to Rs 2,211 per sq.ft, representing a decline of 33%. The value then rose again to Rs 3,300 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,500 per sq.ft, which is a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft as of 2024. The median guideline value in this area is Rs 2,200 per sq.ft, placing Sri Renganatha Nagar's 2024 figure above this median.

• Sri Ranganatha nagar Extension Dr.Saradha Subramaniam Nagar: Rs 1,800 per sq.ft (2024)
• Sri Ranganatha Nagar Extension: Rs 1,800 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase II: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Sakthi Garden Phase I: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar Ext: Rs 2,900 per sq.ft (2024)
• Sri Ram Nagar 1 to 4th Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Renganatha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, while the registration fee at 2% would be Rs 70,000. Together, the total cost would be Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Renganatha Nagar?

The Sub Registrar Office that covers Sri Renganatha Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and that the government collects the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Renganatha Nagar?

The current guideline value of Sri Renganatha Nagar is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, which is below the current value of Sri Renganatha Nagar.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 35,00,000, the total fees would be Rs 3,15,000.

Where is the Sub Registrar Office for Sri Renganatha Nagar located?

The Sub Registrar Office for Sri Renganatha Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.