Guideline Value for RANGU LANE

Rangu Lane guideline value

The current guideline value of Rangu Lane, located in Purasaivakkam village under the Purasaivakkam SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - II land classification.

How the guideline value of Rangu Lane has changed

Over the years, the guideline value of Rangu Lane has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 1,100 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 309%. However, it then decreased to Rs 3,015 per sq.ft in 2017, which represents a drop of 33%. The value then rose sharply to Rs 4,500 per sq.ft in 2023, a substantial increase of 49% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, reflecting a 9% increase from 2023.

The register has no figure for Rangu Lane in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 345%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for the area is Rs 5,500 per sq.ft, placing Rangu Lane's 2024 figure below this median.

• Rao Sahib Venkatapathy Naidu Street: Rs 6,000 per sq.ft (2024)
• Rangappa Street: Rs 5,500 per sq.ft (2024)
• Rangapillai Lane: Rs 5,500 per sq.ft (2024)
• Ranganathapuram: Rs 4,900 per sq.ft (2024)
• Ranganathan Avenue: Rs 13,200 per sq.ft (2024)
• Rathinasabapathy Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rangu Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rangu Lane?

Rangu Lane falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration of property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Rangu Lane?

The current guideline value of Rangu Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 345% over the years.

What are the stamp duty and registration fees for property in Rangu Lane?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers Rangu Lane?

The Purasaivakkam Sub Registrar Office covers Rangu Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Purasaivakkam?

The median guideline value for streets in Purasaivakkam is Rs 5,500 per sq.ft, with Rangu Lane's 2024 value being below this median.