Guideline Value for Rajaji Nagar 10th Street

Rajaji Nagar 10th Street guideline value

The current guideline value of Rajaji Nagar 10th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rajaji Nagar 10th Street has changed

Over the years, the guideline value for Rajaji Nagar 10th Street has seen several revisions. The earliest available figure is from 2007, where it was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 3,300 per sq.ft, which is a 64% rise from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 230%.

It is important to note that there are no figures available for the revisions in 2023, 2003, and 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which aligns with the current guideline value for Rajaji Nagar 10th Street.

• Rajaji Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 15th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 16th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 10th Street

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

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajaji Nagar 10th Street?

The Sub Registrar Office that covers Rajaji Nagar 10th Street 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 Kolathur

The guideline value plays a crucial role in property transactions in Kolathur. It is used as a benchmark to determine the minimum price at which a property can be registered. When buying or selling property, the guideline value is considered to ensure that the transaction is recorded accurately and fairly.

During registration, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 10th Street?

The current guideline value of Rajaji Nagar 10th 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, reflecting an overall increase of 230% over the years.

What are the stamp duty and registration fees for properties in this area?

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 the registration for Rajaji Nagar 10th Street?

The Sembiam Sub Registrar Office handles the registration for Rajaji Nagar 10th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum price for property registration and is used to calculate stamp duty and registration fees during transactions.