Guideline Value for Rajkamal Sowkar Street

Rajkamal Sowkar Street guideline value

The current guideline value of Rajkamal Sowkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village and falls under the Sembiam SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Rajkamal Sowkar Street has changed

The guideline value for Rajkamal Sowkar Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 370 per sq.ft. This increased to Rs 407 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped significantly to Rs 1,000 per sq.ft, an increase of 146%. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, a drop of 33%. However, the value rose again to Rs 2,010 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 3,000 per sq.ft, and the most recent revision in 2024 brought it to Rs 3,300 per sq.ft, a 10% increase.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 792%.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,900 per sq.ft, placing Rajkamal Sowkar Street's 2024 figure above that median.

• Rajpath Street: Rs 3,300 per sq.ft (2024)
• Rajaputhira Street: Rs 3,300 per sq.ft (2024)
• Rangasaee Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Naidu 1st Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Naidu Lane: Rs 3,300 per sq.ft (2024)
• Rangasaee Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Rajkamal Sowkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Rajkamal Sowkar Street?

The Sub Registrar Office that covers Rajkamal Sowkar Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Siruvallur. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs in the transaction process. This ensures transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Rajkamal Sowkar Street?

The current guideline value of Rajkamal Sowkar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen multiple revisions, starting from Rs 370 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 792% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Rajkamal Sowkar Street?

The Sembiam Sub Registrar Office handles property registrations for Rajkamal Sowkar Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Rajkamal Sowkar Street?

The land classification for Rajkamal Sowkar Street is Commercial Class I Type - III, indicating its commercial usage potential.