Guideline Value for Kaveri Rangan Nagar

Kaveri Rangan Nagar guideline value

The current guideline value of Kaveri Rangan Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - III.

How the guideline value of Kaveri Rangan Nagar has changed

The guideline value for Kaveri Rangan Nagar has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,350 per sq.ft. It increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 270%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, which was a drop of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, a 49% increase, and finally reached Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 307%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, and Kaveri Rangan Nagar's 2024 figure of Rs 5,500 per sq.ft is above this median.

• Kaveri Rangan Nagar - Bharathiar Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Duraiarasan Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Indra Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Kavery Naidu Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Kesava Street: Rs 5,500 per sq.ft (2024)
• Kaveri Rangan Nagar - Kodambakkam Pudur Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kaveri Rangan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Kaveri Rangan Nagar?

Kaveri Rangan Nagar falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. The registration office uses the guideline value to calculate the applicable fees, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Kaveri Rangan Nagar?

The current guideline value of Kaveri Rangan Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,350 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 307% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Kaveri Rangan Nagar?

Kaveri Rangan Nagar is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Kaveri Rangan Nagar?

The land classification for Kaveri Rangan Nagar is Residential Special Type - III, indicating its designated use for residential purposes.