Guideline Value for Rangasaee Naidu 1st Lane

Rangasaee Naidu 1st Lane guideline value

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

How the guideline value of Rangasaee Naidu 1st Lane has changed

The guideline value for Rangasaee Naidu 1st Lane has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 424 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007. The value then rose dramatically by 275% to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The 2023 revision saw a rise to Rs 3,000 per sq.ft, followed by a further increase of 10% to Rs 3,300 per sq.ft in the 2024 revision.

Overall, from 2003 to 2024, the guideline value has increased by 678%. The revisions for the year 2002 do not have a figure listed for this street in the register.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft, with a median of Rs 1,900 per sq.ft. Rangasaee Naidu 1st Lane's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Rangasaee 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 Naidu 1st Lane

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangasaee Naidu 1st Lane?

The Sub Registrar Office that covers Rangasaee Naidu 1st 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 when registering properties in Siruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rangasaee Naidu 1st Lane?

The current guideline value of Rangasaee Naidu 1st 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 significantly from Rs 424 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 678% over this period.

What is the land classification for Rangasaee Naidu 1st Lane?

Rangasaee Naidu 1st Lane is classified as Commercial Class I Type - III, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000, based on the guideline value of Rs 33,00,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can visit this office for property registration and related services.