Guideline Value for RANGABASHYAM CHETTY STREET

Rangabashyam Chetty Street guideline value

The current guideline value of Rangabashyam Chetty Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Rangabashyam Chetty Street has changed

The guideline value for Rangabashyam Chetty Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 731 per sq.ft. This increased to Rs 841 per sq.ft in 2003, marking a 15% rise. In 2007, the value further increased to Rs 1,300 per sq.ft, which was a 55% jump from the previous revision. The 2012 revision saw the value rise to Rs 2,500 per sq.ft, reflecting a significant 92% increase. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, and most recently, it has increased to Rs 2,750 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 276%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which means that Rangabashyam Chetty Street's 2024 figure is below that median.

• Saibaba Nagar: Rs 3,300 per sq.ft (2024)
• Sarathy Nagar: Rs 4,400 per sq.ft (2024)
• Punniyakotti Street: Rs 2,750 per sq.ft (2024)
• Sembada Street: Rs 2,750 per sq.ft (2024)
• Perumal Koil West Mada Veethi Extn: Rs 4,400 per sq.ft (2024)
• Perumal Koil West Mada Veethi: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Rangabashyam Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total cost for stamp duty and registration would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rangabashyam Chetty Street?

The Sub Registrar Office that covers Rangabashyam Chetty Street 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to accurately calculate their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Rangabashyam Chetty Street?

The current guideline value of Rangabashyam Chetty Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 731 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 276% over the years.

What is the median guideline value in Saidapet?

The median guideline value in Saidapet is Rs 3,300 per sq.ft for the year 2024, which is higher than the current value of Rangabashyam Chetty Street.

What are the stamp duty and registration fees for properties in Rangabashyam Chetty Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where can I find the Sub Registrar Office for Rangabashyam Chetty Street?

The Sub Registrar Office for Rangabashyam Chetty Street 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.