Guideline Value for RAJA RANGASAMY AVENUE

Raja Rangasamy Avenue guideline value

The current guideline value of Raja Rangasamy Avenue is Rs 7,160 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Raja Rangasamy Avenue has changed

The guideline value for Raja Rangasamy Avenue has seen several revisions over the years. In 2002, the value was Rs 1,065 per sq.ft, which increased to Rs 1,178 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,300 per sq.ft in 2007, an increase of 10%. Following that, the value experienced a substantial jump to Rs 6,500 per sq.ft in 2012, reflecting a 400% increase. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 6,500 per sq.ft in 2023, followed by a 10% rise to the current value of Rs 7,160 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 572%. The register has no figure for the years not mentioned above.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, which means that the guideline value of Raja Rangasamy Avenue is below this median.

• Rajasrinivasa Nagar: Rs 9,900 per sq.ft (2024)
• Rajeswari Nagar: Rs 3,520 per sq.ft (2024)
• Raji Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar Main Road: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 2nd Street: Rs 9,900 per sq.ft (2024)
• Rajaji Nagar 2nd Cross Street: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Rangasamy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,160 per sq.ft, the total guideline value would be Rs 71,60,000. The stamp duty at 7% would amount to Rs 5,01,200, and the registration fee at 2% would be Rs 1,43,200, bringing the total cost for these fees to Rs 6,44,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Raja Rangasamy Avenue?

The Sub Registrar Office that covers Raja Rangasamy Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is important for calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, thus affecting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Raja Rangasamy Avenue?

The current guideline value of Raja Rangasamy Avenue is Rs 7,160 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 1,065 per sq.ft in 2002 to Rs 7,160 per sq.ft in 2024, marking an overall increase of 572% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 71,60,000. The stamp duty would be Rs 5,01,200, and the registration fee would be Rs 1,43,200, totaling Rs 6,44,400.

Which Sub Registrar Office covers Raja Rangasamy Avenue?

The Chennai South Joint I Sub Registrar Office covers Raja Rangasamy Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Raja Rangasamy Avenue?

The land classification for Raja Rangasamy Avenue is Residential Class III Type - I, indicating its designation for residential use.