Guideline Value for RANGASAMY 2nd STREET

RANGASAMY 2nd STREET guideline value

The current guideline value of RANGASAMY 2nd STREET is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of RANGASAMY 2nd STREET has changed

The guideline value for RANGASAMY 2nd STREET has seen several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in 2017. However, this value increased significantly to Rs 1,000 per sq.ft in 2023, and then further rose to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the increase was 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value of RANGASAMY 2nd STREET is below this median.

• RANGASAMY 2nd CROSS STREET: Rs 1,100 per sq.ft (2024)
• Rangasamy Cross Street: Rs 1,100 per sq.ft (2024)
• RANGASAMY 1st STREET: Rs 1,100 per sq.ft (2024)
• Rangasamy Street: Rs 1,100 per sq.ft (2024)
• Rangathan Garden: Rs 1,100 per sq.ft (2024)
• Ranganathan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in RANGASAMY 2nd STREET

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RANGASAMY 2nd STREET?

The Sub Registrar Office that covers RANGASAMY 2nd STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of RANGASAMY 2nd STREET?

The current guideline value of RANGASAMY 2nd STREET is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for RANGASAMY 2nd STREET?

RANGASAMY 2nd STREET is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for RANGASAMY 2nd STREET?

The Sub Registrar Office for RANGASAMY 2nd STREET is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Karapakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.