Guideline Value for Rajan Nagar 1st Street

Rajan Nagar 1st Street guideline value

The current guideline value of Rajan Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Rajan Nagar 1st Street has changed

Starting with the oldest revision, the guideline value for Rajan Nagar 1st Street was Rs 1,000 per sq.ft in 2007. It saw a significant increase to Rs 4,000 per sq.ft in 2012, which marked a 300% rise. The value remained unchanged at Rs 4,000 per sq.ft in the 2023 revision.

In 2024, the guideline value was revised to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 340%. The register has no figures for the years 2002, 2003, and 2017 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 2024 guideline value of Rajan Nagar 1st Street is above this median.

• Rajan Nagar 1st Main Road: Rs 4,400 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)
• Rajan Nagar Thiyagi Palanisamy Street: Rs 4,400 per sq.ft (2024)
• Raja Rajashwari Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rajan Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. 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 Rajan Nagar 1st Street?

The Sub Registrar Office that covers Rajan Nagar 1st 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 a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a reference for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions reflect the true value of the property as determined by the authorities.

Frequently asked questions

What is the current guideline value of Rajan Nagar 1st Street?

The current guideline value of Rajan Nagar 1st Street is Rs 4,400 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 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the land classification for Rajan Nagar 1st Street?

Rajan Nagar 1st Street is classified as Residential Special Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office located for Rajan Nagar 1st Street?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it oversees the registration of properties in this area.