Guideline Value for Rajakamalam Syndicate Layout

Rajakamalam Syndicate Layout guideline value

The current guideline value of Rajakamalam Syndicate Layout is Rs 2,200 per sq.ft, effective from 1 July 2024. This layout is located in Kolathur village under the Sembiam Sub Registrar Office (SRO) and is classified as Residential Class IV Type - I.

How the guideline value of Rajakamalam Syndicate Layout has changed

The guideline value for Rajakamalam Syndicate Layout has seen several revisions over the years. Starting from Rs 262 per sq.ft in 2002, it increased to Rs 285 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a further increase to Rs 2,000 per sq.ft in 2012. However, there was a decline to Rs 1,340 per sq.ft in 2017. The most recent revision in 2024 brought the guideline value to Rs 2,200 per sq.ft, marking a 64% increase from 2017.

Overall, from 2002 to 2024, the guideline value has increased by 740%. It is important to note that the register has no figure for the year 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, with a median value of Rs 3,300 per sq.ft. The guideline value for Rajakamalam Syndicate Layout is below this median.

• Rajaji Street: Rs 2,200 per sq.ft (2024)
• Rajamangalam Nehru Street: 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)

Stamp duty and registration fee for property in Rajakamalam Syndicate Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Rajakamalam Syndicate Layout?

The Rajakamalam Syndicate Layout falls under the jurisdiction of 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 crucial factor during property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the government receives appropriate revenue through stamp duty. Therefore, understanding the guideline value is essential for anyone looking to buy or sell property in the area.

Frequently asked questions

What is the current guideline value of Rajakamalam Syndicate Layout?

The current guideline value of Rajakamalam Syndicate Layout 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 from Rs 262 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between, including a significant increase of 64% from 2017 to 2024.

What is the classification of land in Rajakamalam Syndicate Layout?

The land classification for Rajakamalam Syndicate Layout is Residential Class IV Type - I.

Where is the Sembiam Sub Registrar Office located?

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

How do stamp duty and registration fees work in Kolathur?

Stamp duty and registration fees in Kolathur are calculated based on the guideline value or the sale price, whichever is higher. It is important for buyers and sellers to be aware of these costs when engaging in property transactions.