Guideline Value for Bharath Rajiv Gandhi Nagar 3rd Street

Bharath Rajiv Gandhi Nagar 3rd Street guideline value

The current guideline value of Bharath Rajiv Gandhi Nagar 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Bharath Rajiv Gandhi Nagar 3rd Street has changed

The guideline value for Bharath Rajiv Gandhi Nagar 3rd Street has undergone several revisions over the years. The earliest recorded value was Rs 900 per sq.ft in 2007, which saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a rise of 233%. However, the value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The current revision in 2024 shows a substantial increase to Rs 3,300 per sq.ft, representing a 64% rise from the 2017 figure.

It is important to note that there are no recorded figures for Bharath Rajiv Gandhi Nagar 3rd Street in the years 2023, 2003, and 2002. This lack of data indicates that the guideline value has only been documented in the revisions for 2007, 2012, 2017, and 2024.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Bharath Rajiv Gandhi Nagar 3rd Street.

• Bharath Rajiv Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Rajiv Gandhi Nagar 3rd 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharath Rajiv Gandhi Nagar 3rd Street?

The Bharath Rajiv Gandhi Nagar 3rd Street falls under the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Kolathur, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are required during the transaction.

When a property is sold, the guideline value ensures that the government receives the appropriate revenue from the transaction. Buyers should be aware of the guideline value to ensure compliance with local regulations and to understand the costs involved in the property transaction.

Frequently asked questions

What is the current guideline value of Bharath Rajiv Gandhi Nagar 3rd Street?

The current guideline value of Bharath Rajiv Gandhi Nagar 3rd 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 changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 267% over the years.

What is the land classification for Bharath Rajiv Gandhi Nagar 3rd Street?

Bharath Rajiv Gandhi Nagar 3rd Street is classified as Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Bharath Rajiv Gandhi Nagar 3rd Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 2,31,000.