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 street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Ranga Colony Main Road has changed

The guideline value for Ranga Colony Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,900 per sq.ft in the 2024 revision, reflecting a 6% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%. It is worth noting that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft as of 2024. The median value for these streets is Rs 2,150 per sq.ft, placing Ranga Colony Main Road's 2024 figure below that median.

• 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)
• 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 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 would be Rs 19,00,000. The stamp duty at 7% would amount to 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 and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranga Colony Main Road?

The Sub Registrar Office that covers 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 Rajakilpakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When you proceed with a property transaction, the guideline value will influence the stamp duty and registration fees that you are required to pay. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 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 are the stamp duty and registration fees for a property in Ranga Colony Main Road?

For a property valued at Rs 19,00,000, the stamp duty is Rs 1,33,000 and the registration fee is Rs 38,000, totaling Rs 1,71,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

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

What is the land classification for Ranga Colony Main Road?

The land classification for Ranga Colony Main Road is Residential Class I Type - II, which indicates the zoning designation for this area.