Guideline Value for RANGATHANPURAM BAJANAI KOIL STREET

Rangathanpuram Bajanai Koil Street guideline value

The current guideline value of Rangathanpuram Bajanai Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rangathanpuram Bajanai Koil Street has changed

The guideline value for Rangathanpuram Bajanai Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The change from 2023 to 2024 is an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Rangathanpuram Bajanai Koil Street.

• Rangathanpuram Kulasekara Alwar Street: Rs 2,200 per sq.ft (2024)
• Ranganathpuram/ Nehru Street: Rs 2,200 per sq.ft (2024)
• Ranganathanpuram: Rs 2,200 per sq.ft (2024)
• Ravi Street: Rs 1,870 per sq.ft (2024)
• Roja Street (Senthamizh Nagar): Rs 2,750 per sq.ft (2024)
• Royal Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rangathanpuram Bajanai Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, totaling Rs 1,54,000, while the registration fee is 2%, amounting to Rs 44,000. Together, the total charges would be Rs 1,98,000. 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 further calculations.

Which Sub Registrar Office covers Rangathanpuram Bajanai Koil Street?

The Sub Registrar Office that covers Rangathanpuram Bajanai Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Medavakkam. It determines the minimum value at which the property must be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value serves as a reference point for calculating the stamp duty and registration fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value for Rangathanpuram Bajanai Koil Street?

The current guideline value for Rangathanpuram Bajanai Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has experienced several revisions. It was Rs 2,000 per sq.ft in 2012, reduced to Rs 1,340 per sq.ft in 2017, increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification for Rangathanpuram Bajanai Koil Street?

Rangathanpuram Bajanai Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Rangathanpuram Bajanai Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.