Guideline Value for DR.RANGA SALAI

Dr.Ranga Salai guideline value

The current guideline value of Dr.Ranga Salai is Rs 16,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dr.Ranga Salai has changed

The guideline value of Dr.Ranga Salai has seen significant changes over the years. In 2002, the value was Rs 1,985 per sq.ft, which increased to Rs 2,205 per sq.ft in 2003, marking an increase of 11%. The next revision in 2012 saw the value rise to Rs 15,000 per sq.ft, but this was a decrease of 33% from the previous figure of Rs 10,050 per sq.ft in 2017. The guideline value remained at Rs 15,000 per sq.ft in 2023 before increasing to Rs 16,500 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 731%. The register has no figure for Dr.Ranga Salai in 2007.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Dr.Ranga Salai's current guideline value is above this median.

• Dr. Sivasamy Salai: Rs 15,900 per sq.ft (2024)
• Dr.Radhakrishnan Salai: Rs 25,800 per sq.ft (2024)
• DR. RADHAKRISHNAN SALAI: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 9th Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 8th Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 7th Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Dr.Ranga Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value is Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total fees to Rs 14,85,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Dr.Ranga Salai?

The Sub Registrar Office that covers Dr.Ranga Salai is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to be aware of the current guideline value to ensure compliance with local regulations. This value can affect the overall costs associated with the purchase or sale, making it important for all parties involved to be informed about the latest revisions.

Frequently asked questions

What is the current guideline value of Dr.Ranga Salai?

The current guideline value of Dr.Ranga Salai is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,985 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, representing an overall increase of 731% over the years.

What are the stamp duty and registration fees for property in Dr.Ranga Salai?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 14,85,000.

Which Sub Registrar Office covers Dr.Ranga Salai?

The Mylapore Sub Registrar Office covers Dr.Ranga Salai, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and affects the calculation of stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value during transactions.