Guideline Value for T.S. Ranga Rajan Nagar

T.S. Ranga Rajan Nagar guideline value

The current guideline value of T.S. Ranga Rajan Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This area is located in Perungavur village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of T.S. Ranga Rajan Nagar has changed

The guideline value for T.S. Ranga Rajan Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 17 per sq.ft. This value saw a significant increase of 1076% by 2007, bringing it to Rs 200 per sq.ft. In 2012, the value adjusted to Rs 250 per sq.ft, but then decreased by 33% to Rs 167 per sq.ft in 2017. Following this, the value rose by 50% to Rs 250 per sq.ft in 2023, and finally increased by 10% to the current value of Rs 275 per sq.ft in 2024.

The register has no figure for this street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 1518%.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO, with guideline values ranging from Rs 220 to Rs 1,500 per sq.ft. The median value is Rs 275 per sq.ft, which is equal to the current guideline value for T.S. Ranga Rajan Nagar.

• Vaideki Nagar: Rs 220 per sq.ft (2024)
• Thiruvalluvar Street: Rs 385 per sq.ft (2024)
• Vasugi Nagar: Rs 275 per sq.ft (2024)
• Thirupathi Nagar Annex: Rs 220 per sq.ft (2024)
• Thirupathi Nagar: Rs 220 per sq.ft (2024)
• Vekkali Amman Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in T.S. Ranga Rajan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 275 per sq.ft, the guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, totaling Rs 24,750. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.S. Ranga Rajan Nagar?

The Sub Registrar Office that covers T.S. Ranga Rajan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of T.S. Ranga Rajan Nagar?

The current guideline value of T.S. Ranga Rajan Nagar is Rs 275 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 17 per sq.ft in 2003 to Rs 275 per sq.ft in 2024, reflecting an overall increase of 1518% over this period.

What is the land classification of T.S. Ranga Rajan Nagar?

T.S. Ranga Rajan Nagar is classified as Residential Class II Type - I.

Which office handles property registrations for T.S. Ranga Rajan Nagar?

The Redhills Sub Registrar Office handles property registrations for T.S. Ranga Rajan Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in T.S. Ranga Rajan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 2,75,000 would incur a stamp duty of Rs 19,250 at 7%.