Guideline Value for Rajaji Nagar 6th Street

Rajaji Nagar 6th Street guideline value

The current guideline value of Rajaji Nagar 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Rajaji Nagar 6th Street has changed

The guideline value for Rajaji Nagar 6th Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 2,010 per sq.ft, representing a decrease of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a substantial increase of 64% from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 230%.

It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are a total of 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 the same as the current value for Rajaji Nagar 6th Street.

• Rajaji Nagar 5th 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 4th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rajaji Nagar 6th 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. Together, the total cost for stamp duty and registration would be 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaji Nagar 6th Street?

The Sub Registrar Office that covers Rajaji Nagar 6th 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 when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers must be aware that the duty is charged based on the higher value between the guideline value and the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during the purchase or sale of property.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 6th Street?

The current guideline value of Rajaji Nagar 6th 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 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Rajaji Nagar 6th Street?

Rajaji Nagar 6th Street is classified as Residential Class I Type - I.

Where is the Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Rajaji Nagar 6th Street?

Stamp duty is calculated at 7% of 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.