Guideline Value for Rangasaee Street

Rangasaee Street guideline value

The current guideline value of Rangasaee Street is Rs 3,900 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 - II.

How the guideline value of Rangasaee Street has changed

The guideline value for Rangasaee Street has seen several revisions over the years. In 2003, the guideline value was Rs 424 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. This was followed by a substantial rise to Rs 3,600 per sq.ft in 2012, but then it decreased to Rs 2,412 per sq.ft in 2017. The value rose again to Rs 3,600 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft in 2024, marking an 8% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 820%. 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 with a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, making Rangasaee Street's 2024 figure above that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, together amounting to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rangasaee Street?

The Sub Registrar Office that covers Rangasaee Street 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 during property registration in Siruvallur. It is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value must be considered, as it directly impacts the overall transaction costs. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect their total expenses.

Frequently asked questions

What is the current guideline value of Rangasaee Street?

The current guideline value of Rangasaee Street is Rs 3,900 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 3,900 per sq.ft in 2024, marking an overall increase of 820% over this period.

What is the registration office for Rangasaee Street?

The registration office for Rangasaee Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Rangasaee Street?

Stamp duty for properties in Rangasaee Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the duty is calculated on Rs 39,00,000.

What are the guideline values for other streets in Siruvallur?

Other streets in Siruvallur have varying guideline values. For instance, Rangasaee Naidu Lane, Rangasaee Naidu 1st Lane, and Rangasaee Lane all have a guideline value of Rs 3,300 per sq.ft in 2024, while Sabapathy Street and Sadaiyappa Doss Street are valued at Rs 2,200 per sq.ft.