Guideline Value for Rajan Nagar 3rd Street

Rajan Nagar 3rd Street guideline value

The current guideline value of Rajan Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value for Rajan Nagar 3rd Street has seen significant changes. In the 2007 revision, the value was set at Rs 1,000 per sq.ft. This figure rose to Rs 4,000 per sq.ft in both the 2012 and 2023 revisions, indicating no change during that period. The most recent revision in 2024 has increased the guideline value to Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

From 2007 to 2024, the overall increase in guideline value is 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 have 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. Rajan Nagar 3rd Street's 2024 guideline value of Rs 4,400 per sq.ft is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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 use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Rajan Nagar 3rd Street?

The Sub Registrar Office that covers Rajan Nagar 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO here.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Rajan Nagar 3rd Street?

The current guideline value of Rajan Nagar 3rd 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, showing a significant overall increase of 340% over this period.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 4,400 per sq.ft include Rajan Nagar 4th Street, Rajan Nagar 2nd Street, Rajan Nagar Thiyagi Palanisamy Street, Rajan Nagar 1st Street, and Rajan Nagar 1st Main Road.

Where can I find the Sembiam Sub Registrar Office?

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

How is stamp duty calculated for properties in Rajan Nagar 3rd Street?

Stamp duty for properties in Rajan Nagar 3rd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,96,000.