Guideline Value for RAJARAM COLONY

Rajaram Colony guideline value

The current guideline value of Rajaram Colony, located in Puliyur village under the Kodambakkam SRO, is Rs 7,100 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

How the guideline value of Rajaram Colony has changed

Over the years, the guideline value of Rajaram Colony has seen significant changes. The earliest recorded figure in 2002 was Rs 1,027 per sq.ft, which increased to Rs 1,128 per sq.ft in 2003, reflecting a change of +10%. The value then rose to Rs 1,835 per sq.ft in 2007, marking a substantial increase of +63%. Following that, the 2012 revision maintained the value at Rs 6,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 6,500 per sq.ft, but in 2024, it surged to Rs 7,100 per sq.ft, representing a +9% increase.

It is important to note that there is no figure recorded for Rajaram Colony in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +591%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value of Rajaram Colony is above this median, indicating a higher valuation for this particular street.

• Rajaram Film Directors Colony: Rs 7,100 per sq.ft (2024)
• Rajapuranikar 2nd Street: Rs 3,800 per sq.ft (2024)
• Rajapuranikar 1st Street: Rs 3,800 per sq.ft (2024)
• Raja Veethi: Rs 5,300 per sq.ft (2024)
• Rajeswari Street: Rs 4,400 per sq.ft (2024)
• Raja Gopal Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaram Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajaram Colony?

The Sub Registrar Office that covers Rajaram Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a reference point for determining the value of the property for stamp duty and registration fees. Buyers and sellers must be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating stamp duty. This means that understanding the guideline value is essential for both parties involved in the transaction, as it impacts the overall costs associated with property transfer.

Frequently asked questions

What is the current guideline value of Rajaram Colony?

The current guideline value of Rajaram Colony is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,027 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of +591% over the years.

What is the land classification for Rajaram Colony?

Rajaram Colony is classified as Residential Special Type - II under the land classification scheme.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated in Rajaram Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.