Guideline Value for Ranga Colony Main Road

Ranga Colony Main Road guideline value

The current guideline value of Ranga Colony Main Road is Rs 1,900 per sq.ft, effective from 1 July 2024. This road is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Ranga Colony Main Road has changed

The guideline value for Ranga Colony Main Road has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, it dropped to Rs 1,206 per sq.ft in 2017 before rising again to Rs 1,800 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 660%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Ranga Colony Main Road's 2024 figure below this median.

• Ranga Colony Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 2nd Street: Rs 1,900 per sq.ft (2024)
• Ranga Colony 2nd Cross 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)
• R.B. Avenue: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Colony Main Road

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 fees 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ranga Colony Main Road?

The Sub Registrar Office covering Ranga Colony Main Road 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 Chembakkam

The guideline value is a crucial factor in the registration process of property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or bought.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ranga Colony Main Road?

The current guideline value of Ranga Colony Main Road 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 250 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, showing an overall increase of 660% over the years.

What are the stamp duty and registration fees for properties in Ranga Colony Main Road?

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 Sub Registrar Office handles registrations for Ranga Colony Main Road?

The Selaiyur Sub Registrar Office handles registrations for Ranga Colony Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Ranga Colony Main Road?

Ranga Colony Main Road is classified as Residential Class I Type - I, indicating its suitability for residential purposes.