Guideline Value for Rajan Nagar 2nd Street

Rajan Nagar 2nd Street guideline value

The current guideline value of Rajan Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Special Type - I.

How the guideline value of Rajan Nagar 2nd Street has changed

Over the years, the guideline value for Rajan Nagar 2nd Street has seen significant changes. In the 2007 revision, the guideline value was set at Rs 1,000 per sq.ft, which increased to Rs 4,000 per sq.ft in the 2012 revision. This marked a substantial rise of 300%. The value remained unchanged at Rs 4,000 per sq.ft in the 2023 revision, but saw a 10% increase to Rs 4,400 per sq.ft in the 2024 revision.

There are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from the 2007 revision to the 2024 revision, there has been a total increase of 340% in the guideline value.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with guideline values 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, placing Rajan Nagar 2nd Street's 2024 value above this median.

• Rajan Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Rajan Nagar 1st Main Road: 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 2nd 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, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Rajan Nagar 2nd Street?

The Sub Registrar Office that covers Rajan Nagar 2nd 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 plays a crucial role in the registration of property transactions in Kolathur. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable when buying or selling property.

When a property is sold, the guideline value is used to determine the official value of the property for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Rajan Nagar 2nd Street?

The current guideline value of Rajan Nagar 2nd 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340%.

What is the median guideline value in Kolathur?

The median guideline value for streets in Kolathur is Rs 3,300 per sq.ft, with Rajan Nagar 2nd Street's value being above this median.

What are the stamp duty and registration fees for property in Rajan Nagar 2nd Street?

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

Which office handles registrations for Rajan Nagar 2nd Street?

The Sembiam Sub Registrar Office at 5, Papermills Road, Sembiam, Chennai - 600011 handles registrations for Rajan Nagar 2nd Street.