Guideline Value for Rajaji Nagar 24th Street

Rajaji Nagar 24th Street guideline value

The current guideline value of Rajaji Nagar 24th 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 24th Street has changed

The guideline value for Rajaji Nagar 24th Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 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 equal to the 2024 figure for Rajaji Nagar 24th 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 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)
• Rajaji Nagar 26th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 27th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 24th 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, while the registration fee at 2% would be Rs 66,000. Together, the total fees would be 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.

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

Which Sub Registrar Office covers Rajaji Nagar 24th Street?

The Sub Registrar Office that covers Rajaji Nagar 24th 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 the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 24th Street?

The current guideline value of Rajaji Nagar 24th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, 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 is the land classification for Rajaji Nagar 24th Street?

Rajaji Nagar 24th 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 the stamp duty calculated for properties in Kolathur?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.