Guideline Value for Rajaji Nagar 23rd Street

Rajaji Nagar 23rd Street guideline value

The current guideline value of Rajaji Nagar 23rd 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Rajaji Nagar 23rd Street has changed

The guideline value for Rajaji Nagar 23rd Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value subsequently rose to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 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 is Rs 3,300 per sq.ft, which is equal to the current value of Rajaji Nagar 23rd Street.

• Rajaji Nagar 22nd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 24th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 21st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 25th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 20th 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 23rd 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, bringing the total to Rs 2,97,000. Please 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 23rd Street?

The Sub Registrar Office that covers Rajaji Nagar 23rd 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, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a price that reflects the current market conditions, thereby preventing undervaluation. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 23rd Street?

The current guideline value of Rajaji Nagar 23rd 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, with various revisions in between. The most significant increase occurred from 2012 to 2017, where the value dropped, and then it rose again in subsequent years.

What is the stamp duty for properties on Rajaji Nagar 23rd Street?

The stamp duty for properties on Rajaji Nagar 23rd Street is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, this amounts to Rs 2,31,000.

Which office handles the registration for Rajaji Nagar 23rd Street?

The Sembiam Sub Registrar Office handles the registration for Rajaji Nagar 23rd Street. It is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value in Kolathur?

The median guideline value in Kolathur is Rs 3,300 per sq.ft, which is the same as the current guideline value for Rajaji Nagar 23rd Street.