Guideline Value for Rajaji Nagar 17th Street

Rajaji Nagar 17th Street guideline value

The current guideline value of Rajaji Nagar 17th 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 17th Street has changed

The guideline value for Rajaji Nagar 17th Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, the value decreased to Rs 2,010 per sq.ft in 2017, a reduction of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure.

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

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 guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Rajaji Nagar 17th Street.

• Rajaji Nagar 16th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 18th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 15th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 19th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 14th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 13th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 17th 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 is charged at 7%, amounting to Rs 2,31,000, and the registration fee is charged at 2%, which is Rs 66,000. Therefore, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rajaji Nagar 17th Street?

The Sub Registrar Office that covers Rajaji Nagar 17th 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 in property transactions in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for buyers and sellers to accurately assess the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 17th Street?

The current guideline value of Rajaji Nagar 17th 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, showing an overall increase of 230% over the years.

What is the land classification for Rajaji Nagar 17th Street?

Rajaji Nagar 17th 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 Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 33,00,000, the stamp duty would be 7% of this amount.