Guideline Value for Ranga Colony 2nd Cross Street

Ranga Colony 2nd Cross Street guideline value

The current guideline value for Ranga Colony 2nd 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 falls under the Residential Class I Type - II land classification.

How the guideline value of Ranga Colony 2nd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,206 per sq.ft, marking a change of -33%. The value then increased significantly in the 2023 revision to Rs 1,800 per sq.ft, before rising again to Rs 1,900 per sq.ft in the 2024 revision, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

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

• Ranga Colony 2nd Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 1st Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 1st Cross 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 2nd 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 amounts to 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 to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ranga Colony 2nd Cross Street?

The Ranga Colony 2nd Cross Street is covered by 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 a critical factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Rajakilpakkam, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Ensuring that the sale price is in line with the guideline value can help avoid legal issues during the registration process.

Frequently asked questions

What is the current guideline value for Ranga Colony 2nd Cross Street?

The current guideline value for Ranga Colony 2nd 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 several times, with the 2012 revision at Rs 1,800 per sq.ft, decreasing to Rs 1,206 per sq.ft in 2017, then increasing to Rs 1,800 per sq.ft in 2023, and finally reaching Rs 1,900 per sq.ft in 2024.

What is the median guideline value for streets in Rajakilpakkam?

The median guideline value for streets in Rajakilpakkam is Rs 2,150 per sq.ft, which is higher than the current value for Ranga Colony 2nd Cross Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations for Ranga Colony 2nd Cross Street?

The Selaiyur Sub Registrar Office handles property registrations for Ranga Colony 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.