Guideline Value for RANGARAJAPUARM

Rangarajapuarm guideline value

The current guideline value of Rangarajapuarm, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Rangarajapuarm has changed

The guideline value for Rangarajapuarm has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft. However, the value rebounded to Rs 2,500 per sq.ft in 2023, before increasing again to Rs 2,700 per sq.ft in 2024.

From 2012 to 2017, the value decreased by 33%. Following this, there was a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value across these streets is Rs 2,700 per sq.ft, which is equal to the guideline value for Rangarajapuarm.

• R.G. Nagar: Rs 2,700 per sq.ft (2024)
• Royal Garden: Rs 3,300 per sq.ft (2024)
• Sabari Garden: Rs 1,650 per sq.ft (2024)
• Saminathapuram: Rs 2,700 per sq.ft (2024)
• Santhosapuram: Rs 2,700 per sq.ft (2024)
• Santhosapuram Veeramamunivar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Rangarajapuarm

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangarajapuarm?

The Sub Registrar Office that covers Rangarajapuarm is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vengaivasal. It serves as the minimum value for property transactions and is used to calculate the stamp duty and registration fees required during the registration process.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the stamp duty will still be calculated based on the guideline value, ensuring that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Rangarajapuarm?

The current guideline value of Rangarajapuarm is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Rangarajapuarm?

The land classification for Rangarajapuarm is Mixed Type - II.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Rangarajapuarm?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.