Guideline Value for Rajaji Nagar 22nd Street

Rajaji Nagar 22nd Street guideline value

The current guideline value of Rajaji Nagar 22nd 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 22nd Street has changed

Over the years, the guideline value of Rajaji Nagar 22nd Street has seen several revisions. The 2007 revision set the value at 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, reflecting a decline of 33% from the previous revision. The 2023 revision brought the value up to Rs 3,000 per sq.ft, followed by a 10% increase to the current rate of Rs 3,300 per sq.ft in 2024.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. The overall change from the 2007 revision to the 2024 revision is an increase of 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 value among these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Rajaji Nagar 22nd Street.

• Rajaji Nagar 21st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 23rd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 20th 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)
• Rajaji Nagar 26th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 22nd 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Rajaji Nagar 22nd Street?

The Sub Registrar Office that covers Rajaji Nagar 22nd 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 buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

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 ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 22nd Street?

The current guideline value of Rajaji Nagar 22nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230%.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 2,97,000.

Which office handles registrations for Rajaji Nagar 22nd Street?

The Sembiam Sub Registrar Office handles registrations for Rajaji Nagar 22nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Rajaji Nagar 22nd Street?

The land classification for Rajaji Nagar 22nd Street is Residential Class I Type - I, indicating its suitability for residential development.