Guideline Value for Rajaji Nagar 8th Street

Rajaji Nagar 8th Street guideline value

The current guideline value of Rajaji Nagar 8th 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 is classified as Residential Class I Type - I.

How the guideline value of Rajaji Nagar 8th Street has changed

The guideline value for Rajaji Nagar 8th Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,000 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 revision.

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 2002, 2003, 2017, and 2023 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 guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value for Rajaji Nagar 8th Street.

• Rajaji Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 4th 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 8th 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, making the total fees 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.

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

Which Sub Registrar Office covers Rajaji Nagar 8th Street?

The Sub Registrar Office that covers Rajaji Nagar 8th 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 a critical 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 applicable fees, including stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during property transactions. This helps in accurately assessing the financial obligations associated with the purchase or sale of property in the area.

Frequently asked questions

What is the current guideline value of Rajaji Nagar 8th Street?

The current guideline value of Rajaji Nagar 8th 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 the years.

What is the land classification for Rajaji Nagar 8th Street?

Rajaji Nagar 8th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for this area?

The registration office for Rajaji Nagar 8th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for property transactions?

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