Guideline Value for Janakiram Reddy Colony 6th Street

Janakiram Reddy Colony 6th Street guideline value

The current guideline value of Janakiram Reddy Colony 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO. The land classification is Residential Class I Type - I.

How the guideline value of Janakiram Reddy Colony 6th Street has changed

The guideline value for Janakiram Reddy Colony 6th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. The value remained unchanged at Rs 3,000 per sq.ft in the 2023 revision. However, in the latest revision for 2024, the guideline value has increased to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are also years where the register has no figure for this street, specifically in 2002, 2003, and 2017. Overall, from 2007 to 2024, the guideline value has increased by 230%.

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 guideline value of Janakiram Reddy Colony 6th Street.

• 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 5th 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, totaling 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Janakiram Reddy Colony 6th Street?

The Sub Registrar Office that covers Janakiram Reddy Colony 6th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your specific 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 sold or purchased, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Janakiram Reddy Colony 6th Street?

The current guideline value of Janakiram Reddy Colony 6th 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, showing an overall increase of 230% over the years.

What is the land classification for Janakiram Reddy Colony 6th Street?

The land classification for Janakiram Reddy Colony 6th Street is Residential Class I Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Kolathur?

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