Guideline Value for Rajaji Street

Rajaji Street guideline value

The current guideline value of Rajaji Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Rajaji Street has changed

Over the years, the guideline value of Rajaji Street has experienced significant changes. Starting from Rs 262 per sq.ft in 2002, it rose to Rs 285 per sq.ft in 2003, marking a 9% increase. The value then saw a substantial jump to Rs 700 per sq.ft in 2007, reflecting a 146% rise. This was followed by another increase to Rs 2,000 per sq.ft in 2012, which was a remarkable 186% increase from the previous figure. There was no figure available for the year 2017. The next revision occurred in 2023, maintaining the value at Rs 2,000 per sq.ft, before reaching the current guideline value of Rs 2,200 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 740%. The revisions illustrate the gradual increase in property values in the area, reflecting the changes in the real estate landscape over the years.

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. The guideline value of Rajaji Street is below this median.

• Rajakamalam Syndicate Layout: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 7th 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)

Stamp duty and registration fee for property in Rajaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rajaji Street?

The Sub Registrar Office covering Rajaji 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 plays a crucial role in property transactions in Kolathur. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the associated costs.

When registering a property, the guideline value is referenced to establish the minimum value for taxation purposes. This ensures that all transactions are recorded at a fair value, reflecting the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Rajaji Street?

The current guideline value of Rajaji Street is Rs 2,200 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 262 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing a total increase of 740% over the years.

What is the land classification for Rajaji Street?

Rajaji Street is classified as Residential Class IV Type - I under the Sembiam SRO.

Where can I find the Sub Registrar Office for Rajaji Street?

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 1,98,000.