Guideline Value for RAJAGANPATHY NAGAR PHASE I

Rajaganpathy Nagar Phase I guideline value

The current guideline value of Rajaganpathy Nagar Phase I 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. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Rajaganpathy Nagar Phase I has changed

Over the years, the guideline value of Rajaganpathy Nagar Phase I has undergone several revisions. The oldest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This figure was then revised to Rs 804 per sq.ft in 2017, marking a decrease of 33%. Following this, the 2023 revision set the value at Rs 1,200 per sq.ft, and the latest revision in 2024 raised it to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Specifically, from 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Rajaganpathy Nagar Phase I's 2024 guideline value below that median.

• Raja Ganapathy Nagar Phase II: 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 Rajaganpathy Nagar Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rajaganpathy Nagar Phase I?

The Sub Registrar Office that covers Rajaganpathy Nagar Phase I 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 plays a crucial role during property registration in Kolathuvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

When a property is sold, the registration process will require payment of stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and fairly, reflecting the true value of the property in question.

Frequently asked questions

What is the current guideline value of Rajaganpathy Nagar Phase I?

The current guideline value of Rajaganpathy Nagar Phase I 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 to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Rajaganpathy Nagar Phase I?

Rajaganpathy Nagar Phase I is classified as Residential Class IV Type - I.

Where can I find the registration office for Rajaganpathy Nagar Phase I?

The registration office for Rajaganpathy Nagar Phase I 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.

How is the stamp duty calculated for properties in Rajaganpathy Nagar Phase I?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.