Guideline Value for Kadappa Rangiah Street

Kadappa Rangiah Street guideline value

The current guideline value of Kadappa Rangiah Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Kadappa Rangiah Street has changed

The guideline value for Kadappa Rangiah Street has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 5,360 per sq.ft in 2017. The 2023 revision saw another rise, bringing the value to Rs 8,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 8,800 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vepery

In Vepery, there are a total of 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 4,800 per sq.ft, which means that Kadappa Rangiah Street's 2024 figure is above this median.

• Jermiah Road: Rs 13,000 per sq.ft (2024)
• Kalyanapuram: Rs 2,700 per sq.ft (2024)
• Kalyana Venkatesa PerumalKoilStreet: Rs 4,800 per sq.ft (2024)
• Kanagarajan Mudaliar Thottam: Rs 2,700 per sq.ft (2024)
• Kandappa Lane: Rs 4,800 per sq.ft (2024)
• Kandappa Mudali street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kadappa Rangiah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kadappa Rangiah Street?

Kadappa Rangiah Street falls under the jurisdiction of the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Vepery. 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, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kadappa Rangiah Street?

The current guideline value of Kadappa Rangiah Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, with various increases and decreases in between, including a significant rise of 10% from 2023 to 2024.

What is the median guideline value for streets in Vepery?

The median guideline value for the 290 streets in Vepery under the Periamet SRO is Rs 4,800 per sq.ft, which is lower than the current value of Kadappa Rangiah Street.

What are the stamp duty and registration fees for property in Kadappa Rangiah Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which office handles property registration for Kadappa Rangiah Street?

The Periamet Sub Registrar Office handles property registration for Kadappa Rangiah Street, located at 1103, Poonamallee High Road, Chennai-600 003.