Guideline Value for Rajaji Nagar 20th Street

Rajaji Nagar 20th Street guideline value

The current guideline value of Rajaji Nagar 20th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Rajaji Nagar 20th Street has changed

The guideline value for Rajaji Nagar 20th Street has experienced several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 200%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then increased substantially to Rs 3,000 per sq.ft in 2023, a rise of 49%. The current revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for this street for the years 2002 and 2003. 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 guideline value for 2024, 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 current value of Rajaji Nagar 20th Street.

• Rajaji Nagar 21st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 22nd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 23rd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 25th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 20th 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 amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 20th Street?

The Sub Registrar Office that covers Rajaji Nagar 20th 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 minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the transaction is registered at a fair value.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 20th Street?

The current guideline value of Rajaji Nagar 20th 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 property 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 registrations for Rajaji Nagar 20th Street?

The Sembiam Sub Registrar Office handles registrations for Rajaji Nagar 20th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including the location, land classification, and market conditions in the area.