Guideline Value for Raghavan Street (George Colony)

Raghavan Street (George Colony) guideline value

The current guideline value of Raghavan Street (George Colony) is Rs 3,500 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Raghavan Street (George Colony) has changed

The guideline value for Raghavan Street has seen significant changes over the years. In 2002, the value was Rs 341 per sq.ft, which increased to Rs 370 per sq.ft in 2003, marking a 9% rise. The value continued to increase to Rs 900 per sq.ft in 2007, representing a 143% increase. By 2012, the value was Rs 3,200 per sq.ft, which was a 256% increase from the previous revision. However, it dropped to Rs 2,144 per sq.ft in 2017, indicating a 33% decrease. The guideline value then rose to Rs 3,200 per sq.ft in 2023, followed by a further increase to Rs 3,500 per sq.ft in 2024, reflecting a 9% rise.

Overall, from 2002 to 2024, the guideline value has increased by 926%. There are no figures available for the revisions in years other than those specified.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making Raghavan Street's 2024 figure above that median.

• Raghavan Street: Rs 3,500 per sq.ft (2024)
• Raghavachari Street: Rs 3,800 per sq.ft (2024)
• Puzhal Munuswamy Mudali Street: Rs 1,900 per sq.ft (2024)
• Pudu Street: Rs 1,900 per sq.ft (2024)
• Raja Street: Rs 1,900 per sq.ft (2024)
• Prakash Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Raghavan Street (George Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total to Rs 3,15,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raghavan Street (George Colony)?

The Sub Registrar Office that covers Raghavan Street (George Colony) 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 Sembiam

The guideline value plays a crucial role in the registration process when buying or selling property in Sembiam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value of the property. This helps in maintaining transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Raghavan Street?

The current guideline value of Raghavan Street (George Colony) is Rs 3,500 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 341 per sq.ft in 2002 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 926% over this period.

What is the land classification for Raghavan Street?

Raghavan Street is classified as Residential Special Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in Raghavan Street?

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Where is the Sub Registrar Office for Raghavan Street located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in Raghavan Street.