Guideline Value for Sarojini Nagar 3th Street

Sarojini Nagar 3th Street guideline value

The current guideline value of Sarojini Nagar 3th Street is Rs 2,700 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 II Type - I.

How the guideline value of Sarojini Nagar 3th Street has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, which was a 49% increase from the previous revision.

As of the 2024 revision, the guideline value is now Rs 2,700 per sq.ft, representing an 8% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 170%. 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, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Sarojini Nagar 3th Street's 2024 figure below that median.

• Sarojini Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sarojini Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sarojini Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sarojini Nagar Extension: Rs 2,200 per sq.ft (2024)
• Sasthiri Avenue: Rs 2,700 per sq.ft (2024)
• Sasthri Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Nagar 3th Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Sarojini Nagar 3th Street?

The Sub Registrar Office that covers Sarojini Nagar 3th 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 is a critical factor in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees payable during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sarojini Nagar 3th Street?

The current guideline value of Sarojini Nagar 3th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 170% over the years.

What is the land classification for Sarojini Nagar 3th Street?

Sarojini Nagar 3th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Sarojini Nagar 3th Street?

The Sub Registrar Office for Sarojini Nagar 3th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Sarojini Nagar 3th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.