Guideline Value for Rangasaee Lane

Rangasaee Lane guideline value

The current guideline value of Rangasaee Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village under the Sembiam SRO, classified as Commercial Class I Type - III.

How the guideline value of Rangasaee Lane has changed

The guideline value for Rangasaee Lane has seen several revisions over the years. In 2003, the value was Rs 424 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, but it decreased to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 678%. The register has no figure for the year 2002 for this street.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value is Rs 1,900 per sq.ft, placing Rangasaee Lane's 2024 figure above this median.

• Rangasaee Naidu 1st Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Naidu Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Street: Rs 3,900 per sq.ft (2024)
• Sabapathy Street: Rs 2,200 per sq.ft (2024)
• Sadaiyappa Doss Street: Rs 2,200 per sq.ft (2024)
• Rajpath Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rangasaee Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total amount Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangasaee Lane?

The Sub Registrar Office that covers Rangasaee Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Siruvallur. It is used to determine the stamp duty and registration fees that must be paid during the registration process of a property sale. Buyers and sellers should be aware that the guideline value can significantly impact the overall cost of the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rangasaee Lane?

The current guideline value of Rangasaee Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 424 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an increase of 678% over the years.

What is the land classification for Rangasaee Lane?

Rangasaee Lane is classified as Commercial Class I Type - III.

What are the other streets with similar guideline values?

Other streets in Siruvallur with similar guideline values include Rangasaee Naidu 1st Lane and Rangasaee Naidu Lane, both at Rs 3,300 per sq.ft in 2024.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.