Guideline Value for Rangarasapuram 1st Street

Rangarasapuram 1st Street guideline value

The current guideline value of Rangarasapuram 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village, under the Adayar SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Rangarasapuram 1st Street has changed

The guideline value for Rangarasapuram 1st Street has seen several revisions over the years. The earliest recorded figure is from 2002, when the guideline value was Rs 896 per sq.ft. This increased to Rs 964 per sq.ft in 2003, marking an 8% rise. The value then experienced a significant increase of 133% to reach Rs 2,250 per sq.ft in 2007. Following this, the value rose by 78% to Rs 4,000 per sq.ft in 2012, but then decreased by 33% to Rs 2,680 per sq.ft in 2017. The value increased again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which represents a 10% increase from the previous year.

The overall change from 2002 to 2024 reflects a substantial increase of 391%. The register has no figure for the years between 2017 and 2023 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 5,500 per sq.ft, placing Rangarasapuram 1st Street's 2024 figure below that median.

• Rangarasapuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 4th Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 5th Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 6th Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 7th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rangarasapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangarasapuram 1st Street?

The Sub Registrar Office that covers Rangarasapuram 1st Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Rangarasapuram 1st Street?

The current guideline value of Rangarasapuram 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 896 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 391% over this period.

What is the land classification for Rangarasapuram 1st Street?

Rangarasapuram 1st Street falls under the Residential Class III Type - I land classification.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for Rangarasapuram 1st Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles registrations for Rangarasapuram 1st Street.