Guideline Value for Rangabhashyam Pillai Street

Rangabhashyam Pillai Street guideline value

The current guideline value of Rangabhashyam Pillai Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Rangabhashyam Pillai Street has changed

Over the years, the guideline value of Rangabhashyam Pillai Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,250 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 220%. However, this value decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the latest 2024 revision increased it further to Rs 4,400 per sq.ft, a rise of 10% from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 252%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Rangabhashyam Pillai Street's 2024 figure above that median.

• Railway partar Road: Rs 4,400 per sq.ft (2024)
• Railway Border Colony: Rs 4,400 per sq.ft (2024)
• Sathanar Street: Rs 3,300 per sq.ft (2024)
• Puliyanthoppu: Rs 2,800 per sq.ft (2024)
• Poonthottam Colony Street: Rs 3,900 per sq.ft (2024)
• Pazhvanthangal Main Road(Gandhi Road): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rangabhashyam Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangabhashyam Pillai Street?

The Sub Registrar Office that covers Rangabhashyam Pillai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Palavanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently in accordance with the established values.

Frequently asked questions

What is the current guideline value of Rangabhashyam Pillai Street?

The current guideline value of Rangabhashyam Pillai Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,250 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 252% over this period.

What is the land classification for Rangabhashyam Pillai Street?

Rangabhashyam Pillai Street is classified as Residential Class I Type - II.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically charged at a rate of 7%, along with a registration fee of 2%.