Guideline Value for M.R.RADHA NAGAR

M.R.Radha Nagar guideline value

The current guideline value of M.R.Radha Nagar, located in Mitnamalle village under the Avadi SRO, is Rs 802 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of M.R.Radha Nagar has changed

The guideline value for M.R.Radha Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 150 per sq.ft, which increased dramatically to Rs 600 per sq.ft in 2012, marking a rise of 300%. However, the value decreased to Rs 402 per sq.ft in 2017, a decline of 33%. The 2023 revision raised it to Rs 600 per sq.ft, followed by a substantial increase to Rs 802 per sq.ft in 2024, reflecting a 34% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 435%. The revisions for the years 2002 and 2003 have no figures recorded for this street.

Guideline values in Mitnamalle

In Mitnamalle village, there are 53 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft, with the median being Rs 802 per sq.ft. The guideline value for M.R.Radha Nagar aligns with this median.

• M.R.Radha Nagar 1st Street: Rs 802 per sq.ft (2024)
• M.R.Radha Nagar 2nd Street: Rs 802 per sq.ft (2024)
• Munusamy St: Rs 804 per sq.ft (2024)
• Mittnamilli Colony: Rs 804 per sq.ft (2024)
• Main Road: Rs 802 per sq.ft (2024)
• Palavedu Main Road (Commercial Area): Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in M.R.Radha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value would be Rs 8,02,000. The stamp duty at 7% would amount to Rs 56,140, and the registration fee at 2% would be Rs 16,040, bringing the total fees to Rs 72,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.R.Radha Nagar?

The M.R.Radha Nagar area falls under the jurisdiction of the Avadi Sub Registrar Office. The office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mitnamalle. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it can affect the overall costs involved in the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of M.R.Radha Nagar?

The current guideline value of M.R.Radha Nagar is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 802 per sq.ft in 2024, marking an overall increase of 435% over the years.

What are the registration fees for properties in M.R.Radha Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles registrations for M.R.Radha Nagar?

The Avadi Sub Registrar Office handles registrations for M.R.Radha Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District.

What is the land classification for M.R.Radha Nagar?

M.R.Radha Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.