Guideline Value for RajaGanapathi Nagar

RajaGanapathi Nagar guideline value

The current guideline value of RajaGanapathi Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This locality is situated in Manancheri village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of RajaGanapathi Nagar has changed

The guideline value for RajaGanapathi Nagar has seen several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a 414% rise. However, it decreased to Rs 603 per sq.ft in 2017, reflecting a 33% drop. The value then rose again to Rs 900 per sq.ft in 2023, and most recently to Rs 990 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 466%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,400 per sq.ft. The median guideline value is Rs 990 per sq.ft, which is the same as the current value for RajaGanapathi Nagar. Below are the guideline values for other streets in Manancheri:

• Pooja Avenue: Rs 1,320 per sq.ft (2024)
• Ponni Nagar: Rs 990 per sq.ft (2024)
• Pilliyar koil Street: Rs 1,100 per sq.ft (2024)
• Pilliyar koil Sandhu: Rs 990 per sq.ft (2024)
• Perumal koil Street: Rs 1,100 per sq.ft (2024)
• Road Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in RajaGanapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RajaGanapathi Nagar?

The Sub Registrar Office that covers RajaGanapathi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Manancheri. It serves as a benchmark for determining the minimum sale price of properties, ensuring that the transaction is recorded at a value that reflects the current market conditions as per the registration department.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of RajaGanapathi Nagar?

The current guideline value of RajaGanapathi Nagar is Rs 990 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 175 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, representing an overall increase of 466% over the years.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles property registrations in RajaGanapathi Nagar?

The Kunrathur Sub Registrar Office handles property registrations in RajaGanapathi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Manancheri?

The median guideline value for streets in Manancheri is Rs 990 per sq.ft, which is the same as the current guideline value for RajaGanapathi Nagar.