Guideline Value for RANGAIAH GARDEN STREET

Rangaiah Garden Street guideline value

The current guideline value of Rangaiah Garden Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Rangaiah Garden Street has changed

The guideline value for Rangaiah Garden Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,045 per sq.ft, which increased to Rs 1,161 per sq.ft in 2003, marking an increase of 11%. The value then surged dramatically to Rs 10,500 per sq.ft in 2012, reflecting an increase of 804%. This figure remained unchanged until the 2023 revision, which also recorded Rs 10,500 per sq.ft. The most recent revision in 2024 brought the guideline value to Rs 11,500 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2007 and 2017 for Rangaiah Garden Street. Overall, from 2002 to 2024, the guideline value has increased by 1000%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Rangaiah Garden Street's 2024 figure above this median.

• Ranga Lane (Rangachari Road): Rs 14,300 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 Rangaiah Garden Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000. Together, the total cost for stamp duty and registration fees would be Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangaiah Garden Street?

The Sub Registrar Office that covers Rangaiah Garden Street 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration regulations.

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 state government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rangaiah Garden Street?

The current guideline value of Rangaiah Garden Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,045 per sq.ft in 2002 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What are the registration fees for property in Rangaiah Garden Street?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Which Sub Registrar Office handles registrations for Rangaiah Garden Street?

The Mylapore Sub Registrar Office handles registrations for Rangaiah Garden Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the guideline value determined for property transactions?

The guideline value is determined by the state government and serves as a minimum benchmark for property registration. It is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price.