Guideline Value for RANGA COLONY 1ST STREET

Ranga Colony 1st Street guideline value

The current guideline value of Ranga Colony 1st Street in Rajakilpakkam village is Rs 1,900 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Ranga Colony 1st Street has changed

Over the years, the guideline value of Ranga Colony 1st Street has undergone several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 1,800 per sq.ft in the 2023 revision, followed by another increase to Rs 1,900 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Subsequently, there was a notable increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 indicates a slight increase of 6% in the guideline value.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, placing Ranga Colony 1st Street's 2024 figure below that median.

• Ranga Colony 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 2nd Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony Main Road: Rs 1,900 per sq.ft (2024)
• Ramasamy Street: Rs 3,750 per sq.ft (2024)
• Ramakrishna Avenue Rajeswari Nagar 3rd Cross Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ranga Colony 1st Street?

The Ranga Colony 1st Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can impact their total expenses.

Frequently asked questions

What is the current guideline value of Ranga Colony 1st Street?

The current guideline value of Ranga Colony 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Ranga Colony 1st Street?

Ranga Colony 1st Street is classified as Residential Class I Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Ranga Colony 1st Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.