Guideline Value for Rajaji Nagar 5th Street

Rajaji Nagar 5th Street guideline value

The current guideline value of Rajaji Nagar 5th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Rajaji Nagar 5th Street has changed

Over the years, the guideline value for Rajaji Nagar 5th Street has seen several revisions. In the 2007 revision, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a 33% decline. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from the 2007 revision to the 2024 revision, 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. Rajaji Nagar 5th Street's 2024 figure matches this median.

• Rajaji Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 5th 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, making the total cost for these charges 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 5th Street?

The Sub Registrar Office that covers Rajaji Nagar 5th 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 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 applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

Additionally, the guideline value helps in establishing a benchmark for property prices in the area, providing both buyers and sellers with a reference point during negotiations. It is important for all parties involved to be aware of the current guideline value when entering into property transactions.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 5th Street?

The current guideline value of Rajaji Nagar 5th 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, reflecting an overall increase of 230% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Rajaji Nagar 5th Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions.