Guideline Value for RANGAN LANE

Rangan Lane guideline value

The current guideline value of Rangan Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Rangan Lane has changed

The guideline value for Rangan Lane has seen significant changes over the years. The earliest recorded revision is from 2002, where the value was Rs 988 per sq.ft. This increased to Rs 1,097 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 2,000 per sq.ft in 2007, reflecting an 82% increase. In 2012, the value was recorded at Rs 6,000 per sq.ft, which was a substantial 200% increase from the previous revision. However, this figure dropped to Rs 4,020 per sq.ft in 2017, a decrease of 33%. The guideline value then increased to Rs 6,000 per sq.ft in 2023, and finally, it reached Rs 6,600 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 568%. There are no recorded figures for the years between these revisions for Rangan Lane.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, indicating that Rangan Lane's 2024 figure is below this median.

• Rangan Street: Rs 11,000 per sq.ft (2024)
• Ranganathan Street: Rs 27,500 per sq.ft (2024)
• Ratan Street: Rs 13,200 per sq.ft (2024)
• Reddy Manai: Rs 5,500 per sq.ft (2024)
• Rameshwaram Road: Rs 17,600 per sq.ft (2024)
• Ramasamy Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rangan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty, charged at 7%, would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for stamp duty and registration would be Rs 5,94,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangan Lane?

The Sub Registrar Office covering Rangan Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tnagar. It serves as a basis for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as the guideline value reflects the official assessment of the property’s worth.

Frequently asked questions

What is the current guideline value of Rangan Lane?

The current guideline value of Rangan Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 988 in 2002 to Rs 6,600 in 2024, marking an overall increase of 568% over this period.

What are the stamp duty and registration fees for property in Rangan Lane?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles property registrations for Rangan Lane?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Rangan Lane, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the median guideline value for streets in Tnagar?

The median guideline value for streets in Tnagar is Rs 11,000 per sq.ft, with Rangan Lane's 2024 figure being below this median.