Guideline Value for Arani Ranghan Lane

Arani Ranghan Lane guideline value

The current guideline value of Arani Ranghan Lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Arani Ranghan Lane has changed

The guideline value for Arani Ranghan Lane has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which then increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 483%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and most recently, it increased to Rs 3,800 per sq.ft in 2024, reflecting a 9% change.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 533%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO carrying a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value is Rs 1,600 per sq.ft, making the 2024 guideline value of Arani Ranghan Lane above that median.

• Arani Gangan Street: Rs 3,800 per sq.ft (2024)
• Appasamy Street: Rs 2,700 per sq.ft (2024)
• Arumugam Lane: Rs 1,300 per sq.ft (2024)
• Arunachala Eswarar Koil Street (North Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arunachala Eswarar Koil Street (South Mada Veethy): Rs 1,600 per sq.ft (2024)
• Arunachala Eswarar Koil Street (West Mada Veethy): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Arani Ranghan Lane

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Arani Ranghan Lane?

The Sub Registrar Office that covers Arani Ranghan Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. 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 guideline value helps to ensure that the transaction is documented at a value that reflects the official rates set by the government. This process is essential for maintaining transparency and legality in real estate transactions.

Frequently asked questions

What is the current guideline value of Arani Ranghan Lane?

The current guideline value of Arani Ranghan Lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 533% over the years.

What are the stamp duty and registration fees for property in Arani Ranghan Lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for stamp duty and registration fees would be Rs 3,42,000.

Which office handles registrations for Arani Ranghan Lane?

The Royapuram Sub Registrar Office handles registrations for Arani Ranghan Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Arani Ranghan Lane?

Arani Ranghan Lane is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.