Guideline Value for Rangadoss Colony 2nd Street

Rangadoss Colony 2nd Street guideline value

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

How the guideline value of Rangadoss Colony 2nd Street has changed

The guideline value for Rangadoss Colony 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, it then decreased to Rs 1,340 per sq.ft in 2017. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, marking a 64% increase from the 2017 figure.

Notably, there are no figures available for the years 2023, 2003, and 2002 for this street. The overall change from the 2007 revision to the 2024 revision reflects a substantial increase of 214%, showcasing the fluctuations in the guideline value over the years.

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 guideline value for Rangadoss Colony 2nd Street is below this median.

• Rangadoss Colony 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on calculating these fees.

Which Sub Registrar Office covers Rangadoss Colony 2nd Street?

The Sub Registrar Office that covers Rangadoss Colony 2nd 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 in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is officially recognized.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Rangadoss Colony 2nd Street?

The current guideline value of Rangadoss Colony 2nd 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 a total increase of 214% over the years.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with similar guideline values include Rangadoss Colony 1st Street and Rangadoss Colony 3rd Street, both at Rs 2,200 per sq.ft in 2024.

What fees are associated with purchasing property in Rangadoss Colony 2nd Street?

When purchasing property in Rangadoss Colony 2nd Street, buyers should consider stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Rangadoss Colony 2nd Street?

The Sub Registrar Office for Rangadoss Colony 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.