Guideline Value for Rangaswamy 2nd Street

Rangaswamy 2nd Street guideline value

The current guideline value of Rangaswamy 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Rangaswamy 2nd Street has changed

The guideline value for Rangaswamy 2nd Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent 2024 revision raised this figure to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and from 2017 to 2024, there has been an overall increase of 64%. This indicates a significant rise in the guideline value over the years.

Guideline values in Thiruneermalai

In Thiruneermalai village, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Rangaswamy 2nd Street's 2024 figure below this median.

• Rangaswamy 1st Street: Rs 2,200 per sq.ft (2024)
• Rashiktha Street: Rs 1,980 per sq.ft (2024)
• Ranga Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Ranga Nagar Exten.,: Rs 2,420 per sq.ft (2024)
• Ranga Nagar 6th Street: Rs 2,420 per sq.ft (2024)
• Ranga Nagar 6th Main Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Rangaswamy 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rangaswamy 2nd Street?

The Sub Registrar Office that covers Rangaswamy 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thiruneermalai. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers should be aware of the current guideline value to ensure they comply with the legal requirements during the registration process.

When registering a property, the guideline value serves as a benchmark for valuation. It ensures that the property is assessed fairly for taxation purposes, thereby maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Rangaswamy 2nd Street?

The current guideline value of Rangaswamy 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for a property in Rangaswamy 2nd Street?

For a 1,000 sq.ft property, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Rangaswamy 2nd Street?

The Pammal Sub Registrar Office covers Rangaswamy 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Rangaswamy 2nd Street?

Rangaswamy 2nd Street falls under the Residential Class I Type - II land classification.