Guideline Value for Ranga Colony Street

Ranga Colony Street guideline value

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

How the guideline value of Ranga Colony Street has changed

The guideline value for Ranga Colony Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in 2017. Following this, the value increased to Rs 1,800 per sq.ft in 2023, and finally, it rose to Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chembakkam

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

• Ranga Colony Main Road: 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 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 amount to 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 essential to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ranga Colony Street?

The Sub Registrar Office that covers Ranga Colony 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, 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 plays a crucial role during property registration in Chembakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Ranga Colony Street?

The current guideline value of Ranga Colony 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 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 rates for properties in Ranga Colony Street?

The stamp duty rate for properties in Ranga Colony Street is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Ranga Colony Street?

The Selaiyur Sub Registrar Office covers Ranga Colony Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, while Ranga Colony Street's value is below this median at Rs 1,900 per sq.ft.