Guideline Value for RANGASAMY STREET

Rangasamy Street guideline value

The current guideline value of Rangasamy Street in Karapakkam village, under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Rangasamy Street has changed

Over the years, the guideline value of Rangasamy Street has undergone several revisions. The earliest available figure is from 2012, where the guideline value was Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 670 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,000 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Rangasamy Street. Overall, comparing the 2012 figure to the current 2024 figure, there has been a 10% increase.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, indicating that Rangasamy Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Rangasamy 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 fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Rangasamy Street?

The Sub Registrar Office that covers Rangasamy Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Rangasamy Street?

The current guideline value of Rangasamy 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 in 2012 to Rs 670 in 2017, then back to Rs 1,000 in 2023, and finally to Rs 1,100 in 2024.

What is the land classification for Rangasamy Street?

Rangasamy Street is classified as Residential Class III Type - I.

Which office handles registrations for Rangasamy Street?

The Neelankarai Sub Registrar Office handles registrations for Rangasamy Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Rangasamy Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at a guideline value of Rs 1,100 per sq.ft would incur a total stamp duty of Rs 77,000.