Guideline Value for Rajaji Nagar 2nd Street

Rajaji Nagar 2nd Street guideline value

The current guideline value of Rajaji Nagar 2nd 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 2nd Street has changed

In the 2007 revision, the guideline value was 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. However, there are no figures available for the revisions in 2002, 2003, 2017, and 2023 for this street.

From the 2012 revision to the 2024 revision, the guideline value increased by 10%, reaching Rs 3,300 per sq.ft. 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, with a median value of Rs 3,300 per sq.ft. The guideline value of Rajaji Nagar 2nd Street is equal to this median.

• Rajaji Nagar 29th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 30th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 28th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 31st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 27th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 32nd Street: Rs 3,300 per sq.ft (2024)

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

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rajaji Nagar 2nd Street?

The Rajaji Nagar 2nd Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is used as a reference point for property transactions in Kolathur. When buying or selling property, the guideline value helps determine the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures compliance with legal requirements and helps in the accurate calculation of fees associated with property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 2nd Street?

The current guideline value of Rajaji Nagar 2nd 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 significantly, from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230%.

What are the stamp duty and registration fees for property in Rajaji Nagar 2nd Street?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Rajaji Nagar 2nd Street?

The Sembiam Sub Registrar Office handles registrations for Rajaji Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Rajaji Nagar 2nd Street?

The land classification for Rajaji Nagar 2nd Street is Residential Class I Type - I, indicating its suitability for residential purposes.