Guideline Value for RANGAPPAN LANE

Rangappan Lane guideline value

The current guideline value of Rangappan Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Rangappan Lane has changed

The guideline value for Rangappan Lane has seen several revisions over the years. Starting from Rs 336 per sq.ft in 2002, it increased to Rs 369 per sq.ft in 2003, reflecting a change of +10%. The value then rose significantly to Rs 550 per sq.ft in 2007, marking a +49% increase. In 2012, the value remained at Rs 2,000 per sq.ft, with no change noted until the 2023 revision, which also recorded Rs 2,000 per sq.ft.

In 2023, the guideline value was revised to Rs 2,000 per sq.ft, and in 2024, it increased to Rs 2,200 per sq.ft, representing a +10% change. Overall, from 2002 to 2024, the guideline value has increased by +555%. The register has no figures for the year 2017 for this street.

Guideline values in Perambur

In Perambur village, the guideline values for 2024 range from Rs 1,600 to Rs 7,100 per sq.ft across 1,114 streets under the Purasaivakkam SRO, with a median value of Rs 2,700 per sq.ft. Rangappan Lane's 2024 figure is below this median.

• Ranganathapuram Hut Area: Rs 2,200 per sq.ft (2024)
• Rani Ammal Street: Rs 2,200 per sq.ft (2024)
• Rani Ammayar Street: Rs 2,700 per sq.ft (2024)
• Rathina Mudali 1st Street: Rs 5,400 per sq.ft (2024)
• Rathina Mudali 2nd Street: Rs 5,400 per sq.ft (2024)
• Rathina Mudali Main Street: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rangappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 further calculations.

Which Sub Registrar Office covers Rangappan Lane?

The Sub Registrar Office that covers Rangappan Lane 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 Perambur

The guideline value is a crucial factor when buying or selling property in Perambur. It is used to calculate the stamp duty and registration fees that need to be paid at the time of registration. The guideline value serves as a benchmark for property transactions, ensuring that the government receives the appropriate revenue from property sales.

When a property is sold, the buyer or seller must refer to the guideline value to determine the applicable charges. This value ensures transparency and uniformity in property transactions, as it is set and revised periodically by the Registration Department.

Frequently asked questions

What is the current guideline value of Rangappan Lane?

The current guideline value of Rangappan Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +555%.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Rangappan Lane?

The Purasaivakkam Sub Registrar Office covers Rangappan Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Rangappan Lane?

Rangappan Lane is classified as Residential Class IV Type - I according to the local guidelines.