Guideline Value for Raja Joseph Colony

Raja Joseph Colony guideline value

The current guideline value of Raja Joseph Colony, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Raja Joseph Colony has changed

The guideline value for Raja Joseph Colony has undergone several revisions over the years. Starting from Rs 135 per sq.ft in 2003, the value increased significantly to Rs 600 per sq.ft in 2007, marking a 344% rise. The value remained unchanged at Rs 3,000 per sq.ft from 2012 until 2023, indicating no change during that period.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 2344%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Raja Joseph Colony.

• Rajaji Street: Rs 3,300 per sq.ft (2024)
• Rajaji Cross Street: Rs 3,300 per sq.ft (2024)
• Rajapazham Colony Street: Rs 3,300 per sq.ft (2024)
• Rajarajan Street: Rs 3,300 per sq.ft (2024)
• Rajaram Street: Rs 3,300 per sq.ft (2024)
• Railway Colony: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Joseph Colony

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, bringing the total cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Raja Joseph Colony?

The Raja Joseph Colony is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. When you buy or sell a property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. This value is updated periodically, reflecting changes in the market and land classification.

Frequently asked questions

What is the current guideline value of Raja Joseph Colony?

The current guideline value of Raja Joseph Colony 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 increased from Rs 135 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Raja Joseph Colony?

Raja Joseph Colony is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

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