Guideline Value for Rangaiah Naidu Street

Rangaiah Naidu Street guideline value

The current guideline value of Rangaiah Naidu Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Rangaiah Naidu Street has changed

Over the years, the guideline value of Rangaiah Naidu Street has undergone several revisions. The 2007 revision set the value at Rs 1,200 per sq.ft, which saw a significant increase to Rs 4,500 per sq.ft in 2012. However, this value dropped to Rs 3,015 per sq.ft in 2017. The subsequent revisions saw a rise to Rs 4,500 per sq.ft in 2023, and finally, it reached Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

In summary, from the 2017 revision to the 2023 revision, the value increased by 49%. Notably, the value experienced a substantial rise of 275% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 308%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value for Rangaiah Naidu Street.

• Rangamannar Street: Rs 4,900 per sq.ft (2024)
• Rangasamy Street,Chennai 82: Rs 4,400 per sq.ft (2024)
• Reddy Colony: Rs 5,500 per sq.ft (2024)
• Rengappa Maistry Street: Rs 4,900 per sq.ft (2024)
• Ramanuja Nagar: Rs 4,900 per sq.ft (2024)
• Ramanatha Chetty Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rangaiah Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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 Rangaiah Naidu Street?

The Sub Registrar Office that covers Rangaiah Naidu Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

When buying or selling property in Ayanavaram, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. This value is established by the government and is used as a reference point during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall costs associated with property transactions, including the stamp duty, which is calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rangaiah Naidu Street?

The current guideline value of Rangaiah Naidu Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What is the stamp duty rate for property in Rangaiah Naidu Street?

The stamp duty rate for property transactions in Rangaiah Naidu Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office do I need to visit for Rangaiah Naidu Street?

The AnnaNagar Sub Registrar Office covers Rangaiah Naidu Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the other streets with similar guideline values in Ayanavaram?

Other streets in Ayanavaram include Rangamannar Street, Rengappa Maistry Street, Ramanuja Nagar, and Ramanatha Chetty Street, all with a guideline value of Rs 4,900 per sq.ft as of 2024.