Guideline Value for Rajaji Nagar 1st Street

Rajaji Nagar 1st Street guideline value

The current guideline value of Rajaji Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Rajaji Nagar 1st Street has changed

The guideline value for Rajaji Nagar 1st Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% increase. However, the value dropped to Rs 2,010 per sq.ft in the 2017 revision, representing a decrease of 33%. The 2023 revision saw the value rise to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, 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 is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Rajaji Nagar 1st Street.

• Rajaji Nagar 20th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 21st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 22nd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 19th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 23rd 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 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, making the total Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 1st Street?

The Sub Registrar Office that covers Rajaji Nagar 1st 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 is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration.

When a buyer or seller engages in a property transaction, the guideline value is used to assess the minimum value on which these fees are calculated. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 1st Street?

The current guideline value of Rajaji Nagar 1st 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 of Rajaji Nagar 1st Street?

Rajaji Nagar 1st 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 guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.