Guideline Value for Diwan Bahadur Rangachary Street

Diwan Bahadur Rangachary Street guideline value

The current guideline value of Diwan Bahadur Rangachary Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Residential Class I Type - III.

How the guideline value of Diwan Bahadur Rangachary Street has changed

Over the years, the guideline value for Diwan Bahadur Rangachary Street has seen significant changes. Starting from Rs 912 per sq.ft in 2003, it rose to Rs 1,500 per sq.ft in 2007, marking an increase of 64%. The value then surged to Rs 7,600 per sq.ft in 2012, reflecting a remarkable growth of 407%. However, it dropped to Rs 5,092 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 7,600 per sq.ft in 2023, followed by the latest revision to Rs 8,300 per sq.ft in 2024, indicating a rise of 9%.

In summary, from 2003 to 2024, the overall increase in guideline value has been substantial, totaling 810%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Diwan Bahadur Rangachary Street's 2024 guideline value above this median.

• Dosspuram: Rs 2,800 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 8,300 per sq.ft (2024)
• Dr.Gurusamy Mudali Road: Rs 13,400 per sq.ft (2024)
• Driver Street: Rs 7,100 per sq.ft (2024)
• Dr.Muniyappa Cross Street: Rs 9,300 per sq.ft (2024)
• Dr.Muniyappa Road: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Diwan Bahadur Rangachary Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total charges to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Diwan Bahadur Rangachary Street?

The Sub Registrar Office that covers Diwan Bahadur Rangachary Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it affects the overall cost of the transaction. It is essential to consult the latest guidelines to ensure compliance with the registration process.

Frequently asked questions

What is the current guideline value of Diwan Bahadur Rangachary Street?

The current guideline value of Diwan Bahadur Rangachary Street is Rs 8,300 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 912 per sq.ft in 2003 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 810% over the years.

What is the land classification of Diwan Bahadur Rangachary Street?

Diwan Bahadur Rangachary Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What is the stamp duty rate in Chennai?

The stamp duty rate in Chennai is 7%, which is applied to the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Diwan Bahadur Rangachary Street located?

The Sub Registrar Office for Diwan Bahadur Rangachary Street is located at 1103, Poonamallee High Road, Chennai-600 003.