Guideline Value for Ranga Colony 1st Cross Street

Ranga Colony 1st Cross Street guideline value

The current guideline value of Ranga Colony 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Ranga Colony 1st Cross Street has changed

The guideline value for Ranga Colony 1st Cross Street has seen several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017, which marked a decline of 33%. In 2023, the value increased to Rs 1,800 per sq.ft, and in the latest 2024 revision, it rose again to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 5,000 per sq.ft. The median value among these streets is Rs 2,150 per sq.ft, indicating that the guideline value for Ranga Colony 1st Cross Street is below this median.

• Ranga Colony 1st Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 2nd Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony Main Road: Rs 1,900 per sq.ft (2024)
• Ramasamy Street: Rs 3,750 per sq.ft (2024)
• Ramakrishna Avenue Rajeswari Nagar 3rd Cross Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees together to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimations.

Which Sub Registrar Office covers Ranga Colony 1st Cross Street?

The Sub Registrar Office that covers Ranga Colony 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the transaction.

When you register a property, the guideline value will be considered alongside the sale price. The higher of the two figures will be used to calculate the applicable duties and fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Ranga Colony 1st Cross Street?

The current guideline value of Ranga Colony 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Ranga Colony 1st Cross Street?

Ranga Colony 1st Cross Street is classified as Residential Class I Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Ranga Colony 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 1,71,000.