Guideline Value for RANGARAJAPURAM COLONY 2ND STREET

Rangarajapuram Colony 2nd Street guideline value

The current guideline value of Rangarajapuram Colony 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Rangarajapuram Colony 2nd Street has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 1,060 per sq.ft, which increased to Rs 1,164 per sq.ft in 2003, marking a change of +10%. The value continued to rise to Rs 1,800 per sq.ft in 2007, a substantial increase of +55%. The next revision in 2012 saw the value remain at Rs 6,500 per sq.ft, which was unchanged until the 2023 revision.

In 2023, the guideline value was revised to Rs 6,500 per sq.ft, with the latest revision in 2024 reflecting an increase to Rs 7,100 per sq.ft, a change of +9%. Overall, from 2002 to 2024, the guideline value has increased by +570%. The register has no figure for this street in 2017.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value range from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, placing Rangarajapuram Colony 2nd Street's 2024 figure above that median.

• Rangarajapuram Colony 1st Street: Rs 7,100 per sq.ft (2024)
• Rangarajapuram Colony 3rd Street: Rs 7,100 per sq.ft (2024)
• Rangarajapuram Main Road: Rs 8,000 per sq.ft (2024)
• Rathinammal 1st Street, Aminjikarai: Rs 7,100 per sq.ft (2024)
• Rathinammal 2nd Street, Aminjikarai: Rs 7,100 per sq.ft (2024)
• Rathinammal Street, Kodambakkam: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rangarajapuram Colony 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 Rangarajapuram Colony 2nd Street?

The Sub Registrar Office that covers Rangarajapuram Colony 2nd 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 Puliyur

The guideline value is a crucial factor in property transactions within Puliyur. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that both the buyer and seller comply with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Rangarajapuram Colony 2nd Street?

The current guideline value of Rangarajapuram Colony 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,060 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of +570% over the years.

What is the land classification for Rangarajapuram Colony 2nd Street?

Rangarajapuram Colony 2nd Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Kodambakkam Sub Registrar Office, which covers Rangarajapuram Colony 2nd Street, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%, which is calculated based on the guideline value or the sale price, whichever is higher.