Guideline Value for Rangaswamy Street

Rangaswamy Street guideline value

The current guideline value of Rangaswamy Street is Rs 1,980 per sq.ft. It is located in Kilkattalai village, under the Pallavaram SRO, and classified as Residential Class II Type - I land.

How the guideline value of Rangaswamy Street has changed

Rangaswamy Street has seen significant changes in its guideline value over the years. The earliest recorded figure is from 2003, which was Rs 199 per sq.ft. This value increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 101%. The 2012 revision saw the value remain at Rs 1,800 per sq.ft, followed by a decrease to Rs 1,206 per sq.ft in 2017, which was a decline of 33%. The value then increased to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has risen by 895%. It is important to note that there is no recorded figure for Rangaswamy Street in the 2002 revision.

Guideline values in Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft, with a median value of Rs 2,530 per sq.ft. Rangaswamy Street's current guideline value of Rs 1,980 per sq.ft is below this median.

• Ranga Nagar Ymca Street: Rs 2,530 per sq.ft (2024)
• Ranga Nagar Extn: Rs 2,200 per sq.ft (2024)
• Ranga Nagar 1 To 3 Streets: Rs 2,200 per sq.ft (2024)
• Ranga Nagar: Rs 2,200 per sq.ft (2024)
• Ramaswamy Street: Rs 2,160 per sq.ft (2024)
• Ramasamy 1st Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Rangaswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that 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 Rangaswamy Street?

The Sub Registrar Office that covers Rangaswamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when it comes to the registration of property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with the local regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Rangaswamy Street?

The current guideline value of Rangaswamy Street is Rs 1,980 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 199 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 895% over this period.

What is the registration office for Rangaswamy Street?

The registration office for Rangaswamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates for properties in Rangaswamy Street?

The stamp duty rate for properties in Rangaswamy Street is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets with higher guideline values in Kilkattalai?

Yes, there are several other streets in Kilkattalai with higher guideline values, including Ranga Nagar Ymca Street at Rs 2,530 per sq.ft and several others at Rs 2,200 per sq.ft.