Guideline Value for Rangasamy Nagar

Rangasamy Nagar guideline value

The current guideline value of Rangasamy Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Commercial Class I Type - III.

How the guideline value of Rangasamy Nagar has changed

In the 2024 revision, the guideline value for Rangasamy Nagar is Rs 2,500 per sq.ft. The previous revision in 2023 also set the guideline value at Rs 2,500 per sq.ft. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, there has been no change in the guideline value from 2023 to 2024, with an increase of 0%. The consistent figure indicates stability in the valuation for this street over the last two revisions.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO carrying a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Rangasamy Nagar is above this median.

• RC Queens Park,182E,MRH Road (Ward-18): Rs 3,300 per sq.ft (2024)
• Reddy Street Cross Street (Ward 30): Rs 1,600 per sq.ft (2024)
• Reddy Street Extention (Ward 30): Rs 1,600 per sq.ft (2024)
• Reddy St (Ward-30): Rs 1,600 per sq.ft (2024)
• Red Hills Road / P.R.H. Road: Rs 3,300 per sq.ft (2024)
• Red Hills Road (Vinayagapuram): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rangasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rangasamy Nagar?

The Sub Registrar Office covering Rangasamy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established values.

When buying or selling property, the guideline value helps in assessing the fair value of the property, which is essential for both buyers and sellers. It ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Rangasamy Nagar?

The current guideline value of Rangasamy Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rangasamy Nagar has remained at Rs 2,500 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Rangasamy Nagar?

Rangasamy Nagar is classified as Commercial Class I Type - III, indicating its designation for commercial use within the area.

What are the stamp duty rates for property in Rangasamy Nagar?

The stamp duty for property in Rangasamy Nagar is set at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Rangasamy Nagar?

The Sub Registrar Office for Rangasamy Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.