Guideline Value for Rangasamy Street (Vetri Nagar)

Rangasamy Street (Vetri Nagar) guideline value

The current guideline value of Rangasamy Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Residential Special Type - II.

How the guideline value of Rangasamy Street (Vetri Nagar) has changed

Over the years, the guideline value of Rangasamy Street (Vetri Nagar) has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then dropped to Rs 2,010 per sq.ft in 2017, reflecting a 33% decrease. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,301 per sq.ft from the 2024 revision, which is a 10% increase from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value of Rangasamy Street (Vetri Nagar).

• Rangasamy Lane (Vetri Nagar): Rs 2,700 per sq.ft (2024)
• Ram Nagar New Street: Rs 4,200 per sq.ft (2024)
• Ram Nagar Extension: Rs 4,200 per sq.ft (2024)
• Rengaswamy Pillai Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Ram Nagar 4th Main Road: Rs 4,200 per sq.ft (2024)
• Ram Nagar 4th Cross Street: Rs 4,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rangasamy Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rangasamy Street (Vetri Nagar)?

The Sub Registrar Office that covers Rangasamy Street (Vetri Nagar) 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 Peravallur

The guideline value is a crucial factor when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rangasamy Street (Vetri Nagar)?

The current guideline value of Rangasamy Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the stamp duty and registration fees for property in Rangasamy Street (Vetri Nagar)?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, totaling Rs 2,97,090.

Which office handles registrations for Rangasamy Street (Vetri Nagar)?

The Sembiam Sub Registrar Office handles registrations for Rangasamy Street (Vetri Nagar), located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property registration, ensuring compliance with local regulations. It is used to calculate stamp duty and registration fees based on the higher of the guideline value or the sale price.