Guideline Value for Rangamannar Street

Rangamannar Street guideline value

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

How the guideline value of Rangamannar Street has changed

The guideline value for Rangamannar Street has seen several revisions over the years. In 2002, the value was Rs 378 per sq.ft, which increased to Rs 424 per sq.ft in 2003, marking a 12% rise. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, an increase of 136%. By 2012, the value was Rs 4,500 per sq.ft, reflecting a substantial 350% increase from the previous revision. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the guideline value rose to Rs 4,500 per sq.ft, which was a 49% increase. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft, marking a 9% increase from the previous year. There are no figures available for revisions in years other than those mentioned.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is the same as the current guideline value for Rangamannar Street.

• Rangaiah Naidu 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 Rangamannar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. The total cost for these charges together would be 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangamannar Street?

The Sub Registrar Office that covers Rangamannar 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 online for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayanavaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are aligned with the official valuation of the property.

When a property is registered, the guideline value is used to determine the minimum value for taxation purposes. Buyers and sellers must be aware that the guideline value can influence the overall costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Rangamannar Street?

The current guideline value of Rangamannar 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 378 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 1196%.

What is the classification of Rangamannar Street?

Rangamannar Street is classified as Residential Class I Type - III under the AnnaNagar SRO.

Where can I find the Sub Registrar Office for Rangamannar Street?

The Sub Registrar Office for Rangamannar Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at a rate of 7%.