Guideline Value for Rangarajan Nagar

Rangarajan Nagar guideline value

The current guideline value of Rangarajan Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Rangarajan Nagar has changed

The guideline value for Rangarajan Nagar has seen several revisions over the years. In 2012, the value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in 2023, and then increased to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decline of 33%, but the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. The guideline value for Rangarajan Nagar is above this median.

• Rani Avenue: Rs 880 per sq.ft (2024)
• Rani Nagar: Rs 880 per sq.ft (2024)
• Rani Nagar Extn.: Rs 880 per sq.ft (2024)
• Rathna Garden: Rs 1,600 per sq.ft (2024)
• Raman Street: Rs 880 per sq.ft (2024)
• R.R.Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rangarajan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making a total of Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangarajan Nagar?

The Sub Registrar Office that covers Rangarajan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rangarajan Nagar?

The current guideline value of Rangarajan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024.

What is the land classification for Rangarajan Nagar?

Rangarajan Nagar is classified as Residential Class II Type - I according to the local land classification regulations.

What is the registration office for Rangarajan Nagar?

The registration office for Rangarajan Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Kovilpathagai?

Stamp duty in Kovilpathagai is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, along with a registration fee of 2% on the guideline value or sale price.