Guideline Value for Rangan Nagar

Rangan Nagar guideline value

The current guideline value of Rangan Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village, under the Alandur Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Rangan Nagar has changed

The guideline value for Rangan Nagar has seen several revisions over the years. Starting from Rs 183 per sq.ft in 2002, it increased to Rs 205 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 1,200 per sq.ft in 2007, which was an increase of 485%. In 2012, the value was recorded at Rs 2,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision saw the value rise again to Rs 1,675 per sq.ft, an increase of 49%. The most recent revisions show a rise to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1430%. The register has no figure for the years between 2012 and 2017 for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value among these streets is Rs 2,800 per sq.ft, which is equal to the current guideline value of Rangan Nagar.

• Ramalingam Street: Rs 2,800 per sq.ft (2024)
• Ramalingam Cross Street: Rs 2,800 per sq.ft (2024)
• Ramakrishna Street: Rs 2,800 per sq.ft (2024)
• Sababathi Street: Rs 2,800 per sq.ft (2024)
• Sairam Street (SISI Colony): Rs 3,900 per sq.ft (2024)
• Rajeshwari Nagar Main: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rangan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total charges Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rangan Nagar?

The Sub Registrar Office that covers Rangan Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Ullagaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that both parties are aware of the financial obligations involved in the transaction.

It is essential for buyers and sellers to understand that the guideline value is set by the government and is subject to periodic revisions. This value reflects the minimum price at which a property can be registered, ensuring transparency in property dealings.

Frequently asked questions

What is the current guideline value of Rangan Nagar?

The current guideline value of Rangan Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 183 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1430%.

What is the land classification for Rangan Nagar?

Rangan Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Rangan Nagar?

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

How is stamp duty calculated for properties in Rangan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total charges would be Rs 2,52,000.