Guideline Value for RAJA GANAPATHY NAGAR

Raja Ganapathy Nagar guideline value

The current guideline value of Raja Ganapathy Nagar 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 has changed

The guideline value for Raja Ganapathy Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by another rise to the current value of Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The changes between the revisions show a significant fluctuation in the guideline value, reflecting the adjustments made over the years.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft, with a median value of Rs 1,650 per sq.ft. Raja Ganapathy Nagar's current guideline value is below this median.

• Raja Ganapathy Nagar Phase II: Rs 1,320 per sq.ft (2024)
• Rajaganpathy Nagar Phase I: 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

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, bringing the total cost for stamp duty and registration fees to 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?

The Sub Registrar Office that covers Raja Ganapathy Nagar 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 critical factor in the registration process when buying or selling property in Kolathuvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value may influence the overall costs involved in the property transaction.

When registering a property, the guideline value ensures that the transaction is documented at a fair price as determined by the government. This helps maintain transparency and accountability in property dealings, ensuring that all parties are aware of the financial obligations tied to the sale.

Frequently asked questions

What is the current guideline value of Raja Ganapathy Nagar?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 164%.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, while Raja Ganapathy Nagar's value is below this median.

What are the stamp duty and registration fees for property in Raja Ganapathy Nagar?

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

Which office handles registrations for Raja Ganapathy Nagar?

The Chennai South Joint I Sub Registrar Office handles registrations for Raja Ganapathy Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.