Guideline Value for Janakiram Reddy Colony 3rd Street

Janakiram Reddy Colony 3rd Street guideline value

The current guideline value of Janakiram Reddy Colony 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 is classified as Residential Class I Type - I.

How the guideline value of Janakiram Reddy Colony 3rd Street has changed

In the 2007 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 3,000 per sq.ft, marking a 200% increase. The 2023 revision maintained this figure at Rs 3,000 per sq.ft, indicating no change from the previous revision. However, in the 2024 revision, the guideline value increased by 10% to Rs 3,300 per sq.ft.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Janakiram Reddy Colony 3rd Street.

• Janakiram Reddy Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Janakiram Reddy Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Janakiram Reddy Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Janakiram Reddy Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Janakiram Reddy Colony 6th Street: Rs 3,300 per sq.ft (2024)
• Janakiram Reddy Colony 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Janakiram Reddy Colony 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. Therefore, the total cost for stamp duty and registration fees together would be 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.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janakiram Reddy Colony 3rd Street?

The Sub Registrar Office that covers Janakiram Reddy Colony 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It determines the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair price. This value is used to calculate the stamp duty and registration fees payable during the property registration process.

When a property is sold, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the legal and financial aspects of the transaction, providing clarity and transparency in property dealings.

Frequently asked questions

What is the current guideline value of Janakiram Reddy Colony 3rd Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the land classification for Janakiram Reddy Colony 3rd Street?

Janakiram Reddy Colony 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for the area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.