Guideline Value for RANGAN STREET

Rangan Street guideline value

The current guideline value of Rangan Street in Tnagar village, under the Thiyagaraya nagar SRO, is Rs 11,000 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Rangan Street has changed

The guideline value for Rangan Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,555 per sq.ft. This figure increased to Rs 3,200 per sq.ft in 2003, marking a 106% rise. The value continued to grow, reaching Rs 4,000 per sq.ft in 2007, which was a 25% increase from the previous revision. In 2012, the guideline value was Rs 10,000 per sq.ft, reflecting a substantial 150% increase from 2007. However, this value dropped by 33% to Rs 6,700 per sq.ft in 2017. The guideline value then rose to Rs 10,000 per sq.ft in 2023, before reaching the current value of Rs 11,000 per sq.ft in 2024, which represents a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 607%. There are no figures available for the years not listed in the register for this street.

Guideline values in Tnagar

In Tnagar, 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, which is equal to the current guideline value of Rangan Street.

• Rangan Lane: Rs 6,600 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to Rs 9,90,000. 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 Rangan Street?

The Sub Registrar Office that covers Rangan Street 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 benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value or the sale price, whichever is higher, is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rangan Street?

The current guideline value of Rangan Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,555 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 607%.

What is the land classification for Rangan Street?

Rangan Street falls under the Residential Special Type - I land classification.

What are the stamp duty and registration fees for a property on Rangan Street?

For a 1,000 sq.ft property at the current guideline value, the total fees would amount to Rs 9,90,000, which includes stamp duty and registration fees.

Where is the Sub Registrar Office for Rangan Street located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.