Guideline Value for Janakiram Reddy Colony 5th Street

Janakiram Reddy Colony 5th Street guideline value

The current guideline value for Janakiram Reddy Colony 5th 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 5th Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision. The value remained the same at Rs 3,000 per sq.ft in the 2023 revision, before rising to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

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, with a median value of Rs 3,300 per sq.ft. Janakiram Reddy Colony 5th Street's 2024 guideline value is equal to this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total 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.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janakiram Reddy Colony 5th Street?

The Sub Registrar Office that covers Janakiram Reddy Colony 5th Street is 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 is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the correct 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. This ensures transparency in transactions and aids in the assessment of taxes and fees associated with property transfers.

Frequently asked questions

What is the current guideline value for Janakiram Reddy Colony 5th Street?

The current guideline value for Janakiram Reddy Colony 5th 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Janakiram Reddy Colony 5th Street?

The Sembiam Sub Registrar Office handles property registrations for Janakiram Reddy Colony 5th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Janakiram Reddy Colony 5th Street?

Janakiram Reddy Colony 5th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.