Guideline Value for Rangasamy Street,Chennai 82

Rangasamy Street,Chennai 82 guideline value

The current guideline value of Rangasamy Street,Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Rangasamy Street,Chennai 82 has changed

The guideline value of Rangasamy Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 300%. However, between 2012 and 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Ayanavaram

In Ayanavaram, there are 369 streets under the AnnaNagar SRO that have a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that Rangasamy Street's 2024 figure is below this median.

• Rangamannar Street: Rs 4,900 per sq.ft (2024)
• Rangaiah Naidu Street: Rs 4,900 per sq.ft (2024)
• Reddy Colony: Rs 5,500 per sq.ft (2024)
• Rengappa Maistry Street: Rs 4,900 per sq.ft (2024)
• Ramanuja Nagar: Rs 4,900 per sq.ft (2024)
• Ramanatha Chetty Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rangasamy Street,Chennai 82

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Therefore, the total amount payable for stamp duty and registration fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rangasamy Street,Chennai 82?

The Sub Registrar Office that covers Rangasamy Street,Chennai 82 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

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

Frequently asked questions

What is the current guideline value of Rangasamy Street,Chennai 82?

The current guideline value of Rangasamy Street,Chennai 82 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Rangasamy Street?

The AnnaNagar Sub Registrar Office covers Rangasamy Street,Chennai 82, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties?

The guideline value is determined by the government and is used as a basis for calculating stamp duty and registration fees during property transactions. It reflects the market conditions and land classification in the area.