Guideline Value for Rajaji Nagar 15th Street

Rajaji Nagar 15th Street guideline value

The current guideline value of Rajaji Nagar 15th 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, classified as Residential Class I Type - I.

How the guideline value of Rajaji Nagar 15th Street has changed

In the 2007 revision, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, which represented a decrease of 33%. The most recent revision in 2024 saw a substantial increase to Rs 3,300 per sq.ft, reflecting a 64% rise from the previous figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that the register has no figures for the years 2002, 2003, and 2023 for this street.

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 value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Rajaji Nagar 15th Street.

• Rajaji Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 17th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 12th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 18th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 15th 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, bringing the total fees together to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 15th Street?

The Sub Registrar Office that covers Rajaji Nagar 15th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It is used to determine the applicable stamp duty and registration fees, which are essential costs for buyers and sellers alike.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately. It is important to be aware that the fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 15th Street?

The current guideline value of Rajaji Nagar 15th 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What are the stamp duty and registration fees for properties in Rajaji Nagar 15th Street?

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 Sub Registrar Office is responsible for Rajaji Nagar 15th Street?

The Sembiam Sub Registrar Office is responsible for Rajaji Nagar 15th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Rajaji Nagar 15th Street?

Rajaji Nagar 15th Street is classified as Residential Class I Type - I, indicating its designation for residential use.