Guideline Value for RANGA LANE (RANGACHARI ROAD)

Ranga Lane (Rangachari Road) guideline value

The current guideline value of Ranga Lane (Rangachari Road) is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ranga Lane (Rangachari Road) has changed

The guideline value for Ranga Lane (Rangachari Road) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 13,000 per sq.ft. This was followed by a decrease to Rs 8,710 per sq.ft in 2017. The value then increased significantly to Rs 13,000 per sq.ft in 2023, and further rose to the current value of Rs 14,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ranga Lane (Rangachari Road) above this median.

• Rangaiah Garden Street: Rs 11,500 per sq.ft (2024)
• Ranganathan Street: Rs 3,300 per sq.ft (2024)
• Ranganathapuram Street: Rs 9,300 per sq.ft (2024)
• Rani Annadurai Street: Rs 8,800 per sq.ft (2024)
• Ra Puram 1st Cross Street: Rs 17,600 per sq.ft (2024)
• Ra Puram 1st Main Road: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Lane (Rangachari Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty, charged at 7%, would be Rs 10,01,000, while the registration fee at 2% would be Rs 2,86,000. Together, the total cost for these fees would be Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ranga Lane (Rangachari Road)?

The Sub Registrar Office that covers Ranga Lane (Rangachari Road) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ranga Lane (Rangachari Road)?

The current guideline value of Ranga Lane (Rangachari Road) is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,000 per sq.ft in 2012 to Rs 8,710 per sq.ft in 2017, then to Rs 13,000 per sq.ft in 2023, and finally to Rs 14,300 per sq.ft in 2024.

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

For a property valued at Rs 1,43,00,000, the stamp duty would be Rs 10,01,000, and the registration fee would be Rs 2,86,000, totaling Rs 12,87,000.

What is the classification of Ranga Lane (Rangachari Road)?

Ranga Lane (Rangachari Road) is classified as Residential Class I Type - III, indicating its designation within the local real estate framework.

Where is the Sub Registrar Office for Ranga Lane (Rangachari Road)?

The Mylapore Sub Registrar Office, which covers Ranga Lane (Rangachari Road), is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.