Guideline Value for Rangaiya Chetty Street

Rangaiya Chetty Street guideline value

The current guideline value of Rangaiya Chetty Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Rangaiya Chetty Street has changed

The guideline value of Rangaiya Chetty Street has seen significant changes over the years. In the 2003 revision, the value was Rs 256 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a 17% rise. The value then surged to Rs 1,072 per sq.ft in 2017, reflecting a remarkable 257% increase. The next revision in 2023 set the value at Rs 1,600 per sq.ft, a 49% increase from the previous figure. The current value of Rs 1,760 per sq.ft from the 2024 revision represents a 10% increase from 2023. Notably, there are no figures available for the years 2002 and 2012 in the register for this street.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. Rangaiya Chetty Street's 2024 guideline value is below this median.

• Ramalingaswamy Madham Street: Rs 2,350 per sq.ft (2024)
• Rajiv Gandhi Sreet (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 2,350 per sq.ft (2024)
• Rajamanikam Street (L.R.) (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• Rajaji Salai(karikalan nagar): Rs 2,860 per sq.ft (2024)
• Ragavendra Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Rangaiya Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total charges Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangaiya Chetty Street?

The Sub Registrar Office that covers Rangaiya Chetty Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. The guideline value ensures that property transactions are conducted transparently and fairly, based on the officially recognized values.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps in maintaining a standard for property valuations and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rangaiya Chetty Street?

The current guideline value of Rangaiya Chetty Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 256 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, representing an overall increase of 588%.

What are the stamp duty and registration fees for property in Rangaiya Chetty Street?

For a 1,000 sq.ft plot, the guideline value is Rs 17,60,000. The stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles the registration for Rangaiya Chetty Street?

The Pammal Sub Registrar Office handles the registration for Rangaiya Chetty Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the duties are based on the higher of the guideline value or the sale price, promoting transparency in property dealings.