Guideline Value for Rangarasapuram 4th Street

Rangarasapuram 4th Street guideline value

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

How the guideline value of Rangarasapuram 4th Street has changed

The guideline value for Rangarasapuram 4th Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 896 per sq.ft. This value increased to Rs 964 per sq.ft in 2003, marking an 8% rise. Following this, there was a significant increase of 133%, bringing the value to Rs 2,250 per sq.ft in 2007. The value then saw another rise of 78%, reaching Rs 4,000 per sq.ft in 2012. However, it experienced a decrease of 33% to Rs 2,680 per sq.ft in 2017. The next revision in 2023 saw a substantial increase of 49%, setting the value at Rs 4,000 per sq.ft, which then rose by 10% to the current rate of Rs 4,400 per sq.ft in 2024.

There are no figures available for the revisions of this street in other years. The overall change from 2002 to 2024 shows an increase of 391% in the guideline value.

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, with a median value of Rs 5,500 per sq.ft. The guideline value of Rangarasapuram 4th Street is below this median.

• Rangarasapuram 3rd Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 5th Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 6th Street: Rs 4,400 per sq.ft (2024)
• Rangarasapuram 1st 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 4th 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 at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangarasapuram 4th Street?

The Sub Registrar Office that covers Rangarasapuram 4th 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 determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value serves as a reference point for calculating stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Rangarasapuram 4th Street?

The current guideline value of Rangarasapuram 4th 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, showing an overall increase of 391% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the 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 4th Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles registrations for Rangarasapuram 4th Street.

What is the land classification for Rangarasapuram 4th Street?

The land classification for Rangarasapuram 4th Street is Residential Class III Type - I, indicating its suitability for residential purposes.