Guideline Value for Rajaji Nagar 32nd Street

Rajaji Nagar 32nd Street guideline value

The current guideline value of Rajaji Nagar 32nd 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 32nd Street has changed

The guideline value for Rajaji Nagar 32nd Street has experienced several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,000 per sq.ft. This figure saw a significant increase in the 2012 revision, rising to Rs 3,000 per sq.ft, marking a change of 200%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure. Overall, from 2007 to 2024, the guideline value has increased by 230%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street. The revisions available indicate a clear upward trend in the guideline value over the years.

Guideline values in Kolathur

In Kolathur village, 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 aligns with the 2024 figure for Rajaji Nagar 32nd Street.

• Rajaji Nagar 31st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 33rd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 30th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 34th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 35th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 36th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 32nd 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. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajaji Nagar 32nd Street?

The Sub Registrar Office that covers Rajaji Nagar 32nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

When buying or selling property, the guideline value helps in establishing a fair transaction price, as it reflects the government's assessment of the property's worth in the area. Buyers and sellers must consider this value to comply with legal and financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 32nd Street?

The current guideline value of Rajaji Nagar 32nd 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 3,000 per sq.ft in 2012, and then to Rs 3,300 per sq.ft in 2024. This represents an overall increase of 230% from 2007 to 2024.

What is the land classification for Rajaji Nagar 32nd Street?

Rajaji Nagar 32nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Rajaji Nagar 32nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7% and a registration fee of Rs 66,000 at 2%.