Guideline Value for Rangan Street

Rangan Street guideline value

The current guideline value of Rangan Street in Pammal village, under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Rangan Street has changed

Over the years, the guideline value of Rangan Street has seen significant changes. The earliest recorded figure is from 2003, with a guideline value of Rs 125 per sq.ft. This increased to Rs 260 per sq.ft in 2007, marking a growth of 108%. By 2017, the value rose sharply to Rs 1,072 per sq.ft, reflecting a substantial increase of 312%. The 2023 revision set the value at Rs 1,600 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2012 for Rangan Street. Overall, from 2003 to 2024, the guideline value has increased by 1,308%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 2,090 per sq.ft, which means Rangan Street's 2024 figure is below that median.

• Ranganthan Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Rangaswamy Street / Thirunagar: Rs 1,980 per sq.ft (2024)
• Rangaswamy Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Ranganathapuram: Rs 1,870 per sq.ft (2024)
• Rani Anna Street: Rs 1,980 per sq.ft (2024)
• Rani Anna Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Rangan Street

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

Which Sub Registrar Office covers Rangan Street?

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

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

The guideline value is a crucial factor when registering property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rangan Street?

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

How has the guideline value of Rangan Street changed over the years?

The guideline value has increased significantly from Rs 125 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, marking an overall increase of 1,308% over this period.

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

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee Rs 35,200, totaling Rs 1,58,400. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Rangan Street?

The Pammal Sub Registrar Office covers Rangan Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Rangan Street?

Rangan Street falls under the Residential Class III Type - II land classification, indicating its designation for residential use.