Guideline Value for RADHA NAGAR

Radha Nagar guideline value

The current guideline value of Radha Nagar, located in Mitnamalle village under the Avadi SRO, is Rs 806 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Radha Nagar has changed

The guideline value for Radha Nagar has undergone several revisions over the years. In 2007, the value was Rs 55 per sq.ft, which increased to Rs 250 per sq.ft in 2012. However, it then decreased to Rs 167 per sq.ft in 2017. The value saw a significant rise to Rs 800 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 806 per sq.ft. The register has no figure for this street in 2002 and 2003.

Between the revisions, there were notable changes. From 2007 to 2012, the value increased by 355%, but then it fell by 33% from 2012 to 2017. A remarkable increase of 379% was recorded from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 1365%.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft, with a median value of Rs 802 per sq.ft. The guideline value of Radha Nagar is above this median.

• Rajiv Gandhi Nagar: Rs 806 per sq.ft (2024)
• Sagunthala Avenue: Rs 806 per sq.ft (2024)
• Pallikooda St: Rs 802 per sq.ft (2024)
• Palavedu Main Road (Commercial Area): Rs 802 per sq.ft (2024)
• Munusamy St: Rs 804 per sq.ft (2024)
• M.R.Radha Nagar 2nd Street: Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 806 per sq.ft, the total guideline value would be Rs 8,06,000. The stamp duty at 7% would amount to Rs 56,420, and the registration fee at 2% would be Rs 16,120, making the total cost for these fees Rs 72,540. 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 Radha Nagar?

The Sub Registrar Office that covers Radha Nagar is the Avadi Sub Registrar Office, 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 is a crucial factor when buying or selling property in Mitnamalle, as it determines the stamp duty and registration fees applicable during the registration process. Buyers and sellers must refer to the latest guideline value to ensure compliance with legal requirements and to accurately calculate the fees involved.

When a property is registered, the guideline value serves as a benchmark for the transaction. It is essential for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Radha Nagar?

The current guideline value of Radha Nagar is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 55 per sq.ft in 2007 to Rs 806 per sq.ft in 2024, marking an overall increase of 1365%.

What are the other streets with similar guideline values in Mitnamalle?

Other streets in Mitnamalle with similar guideline values include Rajiv Gandhi Nagar and Sagunthala Avenue, both at Rs 806 per sq.ft in 2024.

What are the fees associated with buying property in Radha Nagar?

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

Where can I find the Sub Registrar Office for Radha Nagar?

The Avadi Sub Registrar Office covers Radha Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.