Guideline Value for Bharath Rajiv Gandhi Nagar 7th Street

Bharath Rajiv Gandhi Nagar 7th Street guideline value

The current guideline value for Bharath Rajiv Gandhi Nagar 7th 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 is classified as Residential Class I Type - I.

How the guideline value of Bharath Rajiv Gandhi Nagar 7th Street has changed

The guideline value for Bharath Rajiv Gandhi Nagar 7th Street has undergone several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a reduction of 33%. The most recent revision in 2024 saw the value rise to Rs 3,300 per sq.ft, reflecting an increase of 64% from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Bharath Rajiv Gandhi Nagar 7th Street.

• Bharath Rajiv Gandhi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 8th 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 4th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Rajiv Gandhi Nagar 7th 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, bringing the total fees to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Bharath Rajiv Gandhi Nagar 7th Street?

The Bharath Rajiv Gandhi Nagar 7th Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in line with the prevailing rates set by the Registration Department. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for Bharath Rajiv Gandhi Nagar 7th Street?

The current guideline value for Bharath Rajiv Gandhi Nagar 7th 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 significantly from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft include Bharath Rajiv Gandhi Nagar 6th, 8th, 5th, 4th, 3rd, and 2nd Streets.

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 7th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,000.