Guideline Value for Rangaswamy Street / Thiruvalluvar Nagar

Rangaswamy Street / Thiruvalluvar Nagar guideline value

The current guideline value of Rangaswamy Street / Thiruvalluvar Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Rangaswamy Street / Thiruvalluvar Nagar has changed

The guideline value for Rangaswamy Street / Thiruvalluvar Nagar has undergone several revisions over the years. The earliest recorded value was Rs 230 per sq.ft in 2002, which increased to Rs 260 per sq.ft in 2003, marking a 13% rise. By 2007, the value surged to Rs 360 per sq.ft, reflecting a 38% increase. The next revision in 2017 saw a significant jump to Rs 1,507 per sq.ft, a remarkable 319% increase. In 2023, the value further rose to Rs 2,250 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,475 per sq.ft, marking a 10% increase from 2023. The register has no figure for this street in 2012.

Overall, from 2002 to 2024, the guideline value has increased by 976%. This substantial rise reflects the changing dynamics in the property landscape of the area over the years.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Rangaswamy Street / Thiruvalluvar Nagar above this median.

• Rangaswamy Street / Thirunagar: Rs 1,980 per sq.ft (2024)
• Rani Anna Street: Rs 1,980 per sq.ft (2024)
• Rani Anna Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Ranganthan Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Rangan Street: Rs 1,760 per sq.ft (2024)
• Ranjan Street, Samundeswari Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Rangaswamy Street / Thiruvalluvar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total cost for these fees to Rs 2,22,750. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rangaswamy Street / Thiruvalluvar Nagar?

The Sub Registrar Office that covers Rangaswamy Street / Thiruvalluvar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all parties are aware of the costs involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Rangaswamy Street / Thiruvalluvar Nagar?

The current guideline value of Rangaswamy Street / Thiruvalluvar Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 230 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, reflecting an overall increase of 976% over this period.

What is the registration fee for property in Rangaswamy Street / Thiruvalluvar Nagar?

The registration fee for property in Rangaswamy Street / Thiruvalluvar Nagar is calculated based on the guideline value, which is currently Rs 2,475 per sq.ft. This fee is 2% of the guideline value.

Which Sub Registrar Office covers Rangaswamy Street / Thiruvalluvar Nagar?

The Pammal Sub Registrar Office covers Rangaswamy Street / Thiruvalluvar Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal include Rangaswamy Street / Thirunagar, Rani Anna Street, Rani Anna Street, Sivasankaran Nagar, Ranganthan Street, Pasumpon Nagar, and Ranjan Street, all of which have their own guideline values for 2024.