Guideline Value for Rangaswamy Street

Rangaswamy Street guideline value

The current guideline value of Rangaswamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Rangaswamy Street has changed

The guideline value for Rangaswamy Street has seen several revisions over the years. In the 2003 revision, the guideline value was Rs 201 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007, marking a change of +298%. The value remained stable at Rs 3,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period.

In the most recent 2024 revision, the guideline value rose to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +1542%. The register has no figures for the years 2002 and 2017 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value for Rangaswamy Street.

• Ranganathan Street: Rs 4,400 per sq.ft (2024)
• Ravi Street: Rs 2,160 per sq.ft (2024)
• Rayapettai Odai 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai Street: Rs 2,750 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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 information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It determines the minimum price at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the fair price for the property and is used to calculate the applicable taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of Rangaswamy Street?

The current guideline value of Rangaswamy Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +1542%.

What is the stamp duty rate for property transactions in Rangaswamy Street?

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

Where can I find the Sub Registrar Office for Rangaswamy Street?

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

What is the land classification for Rangaswamy Street?

Rangaswamy Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.