Guideline Value for Ranga Street

Ranga Street guideline value

The current guideline value of Ranga Street in Kadaperi village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Ranga Street has changed

Over the years, the guideline value of Ranga Street has seen several revisions. The earliest recorded value was Rs 600 per sq.ft in 2007. This was followed by a significant increase to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value then climbed to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

It is important to note that the register has no figures for Ranga Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Ranga Street's 2024 value above this median.

• Ranganathapuram Ist Street: Rs 2,750 per sq.ft (2024)
• Ranganathapuram Ist Cross Street: Rs 2,750 per sq.ft (2024)
• Ranganathapuram 7th Street: Rs 2,750 per sq.ft (2024)
• Ranganathapuram 6th Street: Rs 2,750 per sq.ft (2024)
• Ranganathapuram 6th Cross Street: Rs 2,750 per sq.ft (2024)
• Ranganathapuram 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ranga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees total Rs 1,98,000. 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 Street?

The Sub Registrar Office that covers Ranga Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059 in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kadaperi. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ranga Street?

The current guideline value of Ranga Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, showing an overall increase of 267% over the years.

What is the land classification for Ranga Street?

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

What are the stamp duty and registration fees for properties on Ranga Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Ranga Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ranga Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.