Guideline Value for Rangadoss Colony 3rd Street

Rangadoss Colony 3rd Street guideline value

The current guideline value of Rangadoss Colony 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Rangadoss Colony 3rd Street has changed

The guideline value for Rangadoss Colony 3rd Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 186%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, reflecting a 49% increase, and finally reached Rs 2,200 per sq.ft in 2024, a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 214%. The consistent upward trend in the recent years indicates the evolving landscape of real estate in this area.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with 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. Rangadoss Colony 3rd Street's current guideline value is below this median.

• Rangadoss Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Rangadoss Colony 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Rangadoss Colony 3rd Street?

The Rangadoss Colony 3rd Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kolathur, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership.

Understanding the guideline value helps buyers and sellers to ensure compliance with local regulations and to avoid any potential legal issues during the registration process. It is advisable to check the latest guideline values before proceeding with any property transaction.

Frequently asked questions

What is the current guideline value of Rangadoss Colony 3rd Street?

The current guideline value of Rangadoss Colony 3rd 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 significantly 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 3rd Street?

Rangadoss Colony 3rd Street is classified as Residential Class IV Type - I, indicating its suitability for residential development.

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 the stamp duty calculated for properties in Rangadoss Colony 3rd Street?

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