Guideline Value for Sri Renugambal Nagar

Sri Renugambal Nagar guideline value

The current guideline value of Sri Renugambal Nagar is Rs 505 per sq.ft, effective from 1 July 2024. This area is located in Mambakkam village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Renugambal Nagar has changed

The guideline value for Sri Renugambal Nagar has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 400 per sq.ft, which was then increased by 26% to Rs 505 per sq.ft in the 2024 revision.

This increase from 2023 to 2024 reflects a notable change in the guideline value. The current figure of Rs 505 per sq.ft is now above the median value of Rs 305 per sq.ft for the 39 streets in Mambakkam under the Sunguvarchattram SRO.

Guideline values in Mambakkam

In Mambakkam village, the guideline values for various streets range from Rs 200 to Rs 1,418 per sq.ft, with the median being Rs 305 per sq.ft. Sri Renugambal Nagar's 2024 figure is above this median, indicating a competitive valuation within the area.

• Srinivasapuram: Rs 250 per sq.ft (2024)
• Sri umariamman Kovil Street: Rs 200 per sq.ft (2024)
• SriAnandavalli Nagar: Rs 700 per sq.ft (2024)
• Thabalmedu: Rs 305 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 275 per sq.ft (2024)
• Uratchimandra Aluvalaga street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Renugambal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 505 per sq.ft, the guideline value amounts to Rs 5,05,000. The stamp duty at 7% would be Rs 35,350, and the registration fee at 2% would be Rs 10,100, bringing the total to Rs 45,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Sri Renugambal Nagar?

Sri Renugambal Nagar falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value plays a crucial role during property registration in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair rate.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transaction process. Buyers should be aware of these values to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sri Renugambal Nagar?

The current guideline value of Sri Renugambal Nagar is Rs 505 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Renugambal Nagar has seen revisions, with the 2023 figure at Rs 400 per sq.ft, which increased to Rs 505 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Sri Renugambal Nagar?

Sri Renugambal Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 5,05,000, the stamp duty is Rs 35,350, and the registration fee is Rs 10,100, totaling Rs 45,450. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office should I visit for property registration in Sri Renugambal Nagar?

Property registration in Sri Renugambal Nagar is handled by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.