Guideline Value for RAJA GANAPATHY NAGAR PHASE II

Raja Ganapathy Nagar Phase II guideline value

The current guideline value of Raja Ganapathy Nagar Phase II is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Raja Ganapathy Nagar Phase II has changed

The guideline value for Raja Ganapathy Nagar Phase II has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following that, the value increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,320 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

Comparing the revisions, the guideline value rose by 49% from 2017 to 2023, and then increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing the 2024 figure for Raja Ganapathy Nagar Phase II below that median.

• Rajaganpathy Nagar Phase I: Rs 1,320 per sq.ft (2024)
• Raja Ganapathy Nagar: Rs 1,320 per sq.ft (2024)
• Poonmuthu Nagar: Rs 1,260 per sq.ft (2024)
• Pooniamman Nagar: Rs 990 per sq.ft (2024)
• Ramaiah Nagar: Rs 990 per sq.ft (2024)
• Rama Krishna Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Raja Ganapathy Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges together Rs 1,18,800. 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 Raja Ganapathy Nagar Phase II?

The Sub Registrar Office that covers Raja Ganapathy Nagar Phase II is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must consider this value to understand the costs associated with registration, as it directly influences the amount of stamp duty and registration fees payable.

Frequently asked questions

What is the current guideline value of Raja Ganapathy Nagar Phase II?

The current guideline value of Raja Ganapathy Nagar Phase II is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is now Rs 1,320 per sq.ft in 2024.

What is the median guideline value in Kolathuvancheri?

The median guideline value for the 146 streets in Kolathuvancheri is Rs 1,650 per sq.ft, with Raja Ganapathy Nagar Phase II's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Where can I find the Sub Registrar Office for Raja Ganapathy Nagar Phase II?

The Sub Registrar Office for Raja Ganapathy Nagar Phase II is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.