Guideline Value for Rajamangalam Nehru Street

Rajamangalam Nehru Street guideline value

The current guideline value of Rajamangalam Nehru Street is Rs 2,200 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 IV Type - I.

How the guideline value of Rajamangalam Nehru Street has changed

Over the years, the guideline value of Rajamangalam Nehru Street has seen significant changes. In 2003, the value was Rs 191 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a rise of 266%. The value then rose to Rs 2,000 per sq.ft in 2012, reflecting an increase of 186%. However, it dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

The register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1052%.

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 value for these streets is Rs 3,300 per sq.ft, placing Rajamangalam Nehru Street's 2024 figure below that median.

• Rajan Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Rajakamalam Syndicate Layout: Rs 2,200 per sq.ft (2024)
• Rajan Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Rajamangalam Nehru Street

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, bringing the total fees together to Rs 1,98,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rajamangalam Nehru Street?

The Sub Registrar Office that covers Rajamangalam Nehru Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is an essential factor during the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Rajamangalam Nehru Street?

The current guideline value of Rajamangalam Nehru 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 191 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1052% over this period.

What is the land classification for Rajamangalam Nehru Street?

Rajamangalam Nehru Street is classified as Residential Class IV Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Rajamangalam Nehru Street?

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