Guideline Value for RANGAIAH CHETTY STREET

Rangaiah Chetty Street guideline value

The current guideline value of Rangaiah Chetty Street is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Rangaiah Chetty Street has changed

The guideline value for Rangaiah Chetty Street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,800 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, there was a significant drop to Rs 4,020 per sq.ft in the 2017 revision. The value then rose to Rs 6,000 per sq.ft in 2023, culminating in the current rate of Rs 6,500 per sq.ft as of the 2024 revision. The changes between these revisions include an increase of 114% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a notable increase of 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024.

The guideline value register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Rangaiah Chetty Street's 2024 figure above this median.

• Ranganathan Avenue: Rs 13,200 per sq.ft (2024)
• Ranganathapuram: Rs 4,900 per sq.ft (2024)
• Rangapillai Lane: Rs 5,500 per sq.ft (2024)
• Rangappa Street: Rs 5,500 per sq.ft (2024)
• Rangu Lane: Rs 4,900 per sq.ft (2024)
• Rao Sahib Venkatapathy Naidu Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Rangaiah Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value is Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, bringing the total fees to Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rangaiah Chetty Street?

The Sub Registrar Office that covers Rangaiah Chetty Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can influence negotiations and final sale prices. It is essential to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Rangaiah Chetty Street?

The current guideline value of Rangaiah Chetty Street is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2007 to Rs 6,500 per sq.ft in 2024, reflecting an overall increase of 132% over the years.

What is the land classification for Rangaiah Chetty Street?

Rangaiah Chetty Street is classified as Residential Class II Type - II.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate your fees using the stamp duty and registration fee calculator.

Which office handles the registration for Rangaiah Chetty Street?

The registration for Rangaiah Chetty Street is handled by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.