Guideline Value for RANGASAMY CROSS STREET

Rangasamy Cross Street guideline value

The current guideline value of Rangasamy Cross 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 Cross Street has changed

The guideline value for Rangasamy Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and most recently, it rose to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

Looking at the changes between revisions, the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that 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 Cross Street is below this median.

• RANGASAMY 2nd STREET: Rs 1,100 per sq.ft (2024)
• RANGASAMY 2nd 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 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to 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, bringing the total cost to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use this stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangasamy Cross Street?

The Sub Registrar Office that covers Rangasamy Cross 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 plays a crucial role in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Rangasamy Cross Street?

The current guideline value of Rangasamy Cross 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 are the other streets in Karapakkam with the same guideline value?

Other streets in Karapakkam with the same guideline value of Rs 1,100 per sq.ft include RANGASAMY 2nd STREET, RANGASAMY 2nd CROSS STREET, RANGASAMY 1st STREET, Rangasamy Street, and Rangathan Garden.

What is the role of the Neelankarai SRO?

The Neelankarai SRO is responsible for the registration of property transactions in the Karapakkam area. It ensures that all transactions are recorded accurately and that the appropriate fees are collected.

How is the stamp duty calculated for properties in Rangasamy Cross Street?

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