Guideline Value for Rangadoss Colony 1st Street

Rangadoss Colony 1st Street guideline value

The current guideline value of Rangadoss Colony 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Rangadoss Colony 1st Street has changed

Over the years, the guideline value for Rangadoss Colony 1st Street has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 700 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 186%. However, the value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

In summary, from 2017 to 2023, the guideline value increased by 49%. The overall increase from 2007 to 2024 is 214%. It is important to note that the register has no figures for the years 2002 and 2003 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. The guideline value for Rangadoss Colony 1st Street is below this median.

• Rangadoss Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Ramdoss Nagar: Rs 2,700 per sq.ft (2024)
• Red Hills road: Rs 5,500 per sq.ft (2024)
• Ramani Nagar: Rs 2,700 per sq.ft (2024)
• R.K.R. Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Rangadoss Colony 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is essential 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 accurate calculations based on your property.

Which Sub Registrar Office covers Rangadoss Colony 1st Street?

The Sub Registrar Office that covers Rangadoss Colony 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is higher than the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Rangadoss Colony 1st Street?

The current guideline value of Rangadoss Colony 1st 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 from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What is the land classification for Rangadoss Colony 1st Street?

The land classification for Rangadoss Colony 1st Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Rangadoss Colony 1st Street?

The Sub Registrar Office for Rangadoss Colony 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Rangadoss Colony 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.