Guideline Value for All India Radio Nagar

All India Radio Nagar guideline value

The current guideline value of All India Radio Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024. This locality is part of Ernavur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of All India Radio Nagar has changed

The guideline value for All India Radio Nagar has seen several revisions over the years. In 2002, the value was Rs 134 per sq.ft, which increased to Rs 153 per sq.ft in 2003, marking a 14% rise. By 2007, the value surged to Rs 200 per sq.ft, a significant increase of 31%. The following revision in 2012 saw a notable jump to Rs 1,300 per sq.ft, reflecting a 550% increase. However, in 2017, the value adjusted downwards to Rs 871 per sq.ft, a decrease of 33%. The value then rose to Rs 1,300 per sq.ft in 2023, before reaching the current rate of Rs 1,400 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 945%. There are no figures available for revisions other than those specified for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of All India Radio Nagar is below this median.

• Ambethkar Nagar: Rs 2,400 per sq.ft (2024)
• Adhidhravidar Nagar: Rs 1,400 per sq.ft (2024)
• Annai Sivagami Nagar: Rs 1,000 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)
• Balaji Nagar: Rs 1,600 per sq.ft (2024)
• Barath Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in All India Radio Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, resulting in a total of Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers All India Radio Nagar?

The All India Radio Nagar area falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Ernavur. It serves as a benchmark for determining the minimum value at which properties can be sold and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buyers and sellers engage in a property transaction, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of All India Radio Nagar?

The current guideline value of All India Radio Nagar is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 134 per sq.ft in 2002 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 945% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Which office handles registrations for All India Radio Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for All India Radio Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of All India Radio Nagar?

All India Radio Nagar is classified as Residential Class I Type - III, indicating its designation for residential use within the locality.