Guideline Value for Rajaji Nagar 29th Street

Rajaji Nagar 29th Street guideline value

The current guideline value for Rajaji Nagar 29th 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 29th Street has changed

In the 2007 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 3,000 per sq.ft, marking a 200% increase. The next revision in 2024 brought the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure. The overall change from 2007 to 2024 is a substantial 230% increase, highlighting the growth in the guideline value over the years.

The register has no figures for the years 2023, 2017, 2003, and 2002 for this street.

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 guideline value of Rajaji Nagar 29th Street.

• Rajaji Nagar 28th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 27th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 26th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 25th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 24th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 29th Street

For a 1,000 sq.ft plot at the current guideline value 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, 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.

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

Which Sub Registrar Office covers Rajaji Nagar 29th Street?

The Sub Registrar Office that covers Rajaji Nagar 29th 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 plays a crucial role in the registration process of property transactions in Kolathur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 29th Street?

The current guideline value of Rajaji Nagar 29th 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over this period.

What is the land classification for Rajaji Nagar 29th Street?

Rajaji Nagar 29th Street falls under the Residential Class I Type - I land classification.

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 Rajaji Nagar 29th Street?

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