Guideline Value for Rajaji Nagar 16th Street

Rajaji Nagar 16th Street guideline value

The current guideline value of Rajaji Nagar 16th 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 16th Street has changed

The guideline value for Rajaji Nagar 16th Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 has brought the value back up to Rs 3,300 per sq.ft, which is a 64% increase 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 years 2023, 2003, and 2002 for Rajaji Nagar 16th Street in the register.

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 the same as the guideline value for Rajaji Nagar 16th Street.

• Rajaji Nagar 15th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 17th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 13th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 19th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 16th 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 at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees amount to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajaji Nagar 16th Street?

The Sub Registrar Office that covers Rajaji Nagar 16th 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 is a crucial factor when buying or selling property in Kolathur. It serves as a benchmark for the valuation of properties and is used to calculate the stamp duty and registration fees that are payable during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 16th Street?

The current guideline value of Rajaji Nagar 16th 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, representing an overall increase of 230% over the years.

What is the land classification for Rajaji Nagar 16th Street?

Rajaji Nagar 16th Street is classified as Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Rajaji Nagar 16th Street?

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