Guideline Value for RANGARAJAN STREET

Rangarajan Street guideline value

The current guideline value of Rangarajan Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village under the Kodambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Rangarajan Street has changed

The guideline value for Rangarajan Street has undergone several revisions since 2002. The earliest recorded figure is from 2002, which was Rs 573 per sq.ft. This figure increased to Rs 634 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,200 per sq.ft in 2007, reflecting an 89% increase. In 2012, the guideline value reached Rs 5,500 per sq.ft, a substantial jump of 358%. However, it saw a decline of 33% to Rs 3,685 per sq.ft in 2017. The value increased again to Rs 5,500 per sq.ft in 2023, and most recently, it has risen to Rs 6,000 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value for Rangarajan Street has increased by 947%. There are no figures available for the years not listed in the register for this street.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,600 per sq.ft, placing Rangarajan Street's 2024 figure below this median.

• Ramasamy Street: Rs 6,000 per sq.ft (2024)
• Rajaram Metha Nagar - Vanilarasu Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Singarayan Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Sathasivam Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Sarangapani Street: Rs 6,600 per sq.ft (2024)
• Rajaram Metha Nagar - Rajeswari Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rangarajan Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangarajan Street?

The Sub Registrar Office that covers Rangarajan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vadaagaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that are payable at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as this will impact the overall cost of the transaction. Proper understanding of the guideline value ensures compliance with local regulations and helps in accurate financial planning.

Frequently asked questions

What is the current guideline value of Rangarajan Street?

The current guideline value of Rangarajan Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 573 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 947% over the years.

What are the other streets in Vadaagaram with similar guideline values?

Other streets in Vadaagaram include Ramasamy Street at Rs 6,000 per sq.ft and several streets in Rajaram Metha Nagar, all at Rs 6,600 per sq.ft.

What is the registration fee for property transactions in Rangarajan Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 60,00,000, the registration fee would be Rs 1,20,000.

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

The Kodambakkam Sub Registrar Office covers Rangarajan Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.