Guideline Value for Rajaji Nagar 34th Street

Rajaji Nagar 34th Street guideline value

The current guideline value of Rajaji Nagar 34th 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 34th Street has changed

Over the years, the guideline value for Rajaji Nagar 34th Street has seen significant changes. The earliest recorded revision was in 2007, with a guideline value of Rs 1,000 per sq.ft. This figure increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the 2012 figure.

From the 2007 revision to the current 2024 revision, the overall increase in guideline value is 230%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 in the register 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 value among these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Rajaji Nagar 34th Street.

• Rajaji Nagar 33rd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 35th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 32nd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 36th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 31st Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 37th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 34th 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 cost for these fees to Rs 2,97,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 34th Street?

The Sub Registrar Office that covers Rajaji Nagar 34th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for assessing property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 34th Street?

The current guideline value of Rajaji Nagar 34th 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 a total increase of 230% over this period.

What is the land classification for Rajaji Nagar 34th Street?

Rajaji Nagar 34th 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 stamp duty calculated for property in Rajaji Nagar 34th Street?

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 would be Rs 2,31,000 at 7%.