Guideline Value for RANGAPILLAI STREET

Rangapillai Street guideline value

The current guideline value of Rangapillai Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Rangapillai Street has changed

The guideline value for Rangapillai Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value significantly increased to Rs 3,000 per sq.ft in 2023, and most recently to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Rangapillai Street's 2024 guideline value above this median.

• RangasamiPillai Street: Rs 2,700 per sq.ft (2024)
• Ranganatha Mudali Street: Rs 5,500 per sq.ft (2024)
• Rajendra Prasad Road: Rs 2,700 per sq.ft (2024)
• Safaiwala Quarters: Rs 2,700 per sq.ft (2024)
• Sandhai Road: Rs 3,300 per sq.ft (2024)
• Queen Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rangapillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangapillai Street?

The Sub Registrar Office that covers Rangapillai Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration laws and to calculate applicable fees.

When a property is sold, the guideline value helps in assessing the stamp duty and registration fees that need to be paid. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rangapillai Street?

The current guideline value of Rangapillai Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Cantonment Pallavaram and their guideline values?

Other streets in Cantonment Pallavaram include RangasamiPillai Street at Rs 2,700 per sq.ft, Ranganatha Mudali Street at Rs 5,500 per sq.ft, and Sandhai Road at Rs 3,300 per sq.ft, among others.

What is the registration fee based on the guideline value?

The registration fee is calculated at 2% of the guideline value. For example, a property valued at Rs 33,00,000 would incur a registration fee of Rs 66,000.

Where can I find the Sub Registrar Office for Rangapillai Street?

The Sub Registrar Office for Rangapillai Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details online.