Guideline Value for Rangasaee Naidu Lane

Rangasaee Naidu Lane guideline value

The current guideline value of Rangasaee Naidu 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 Naidu Lane has changed

The guideline value for Rangasaee Naidu 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 a significant jump to Rs 3,000 per sq.ft, but it then decreased to Rs 2,010 per sq.ft in 2017. The value rose again to Rs 3,000 per sq.ft in 2023 and is now Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was a substantial 275%. The value rose by 89% from 2003 to 2007. 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 village, 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 Lane's 2024 figure is above this median.

• Rangasaee Naidu 1st Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Street: Rs 3,900 per sq.ft (2024)
• Rangasaee Lane: Rs 3,300 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 Lane

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

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangasaee Naidu Lane?

The Sub Registrar Office that covers Rangasaee Naidu 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 plays a crucial role in the registration process when buying or selling property in Siruvallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is used to ensure that the transaction reflects a fair value for taxation purposes. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Rangasaee Naidu Lane?

The current guideline value of Rangasaee Naidu 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, reflecting an overall increase of 678% over this period.

What is the land classification for Rangasaee Naidu Lane?

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

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Rangasaee Naidu Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.