Guideline Value for RADHA NAGAR

Radha Nagar guideline value

The current guideline value of Radha Nagar, located in Koladi village under the Chennai South Joint II SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

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 guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this value dropped to Rs 670 per sq.ft in 2017. Following this, the value saw a substantial increase of 49% to reach Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with the median value being Rs 1,100 per sq.ft. Radha Nagar's 2024 figure matches this median value.

• Raja Nagar: Rs 660 per sq.ft (2024)
• Rajarathinam Nagar: Rs 1,100 per sq.ft (2024)
• Rajarathinam Nagar Road And 1 To 6 Cross Street: Rs 1,100 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 880 per sq.ft (2024)
• Ponnammal Street: Rs 880 per sq.ft (2024)
• Raju Nagar: Rs 660 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, amounting to a total of Rs 99,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Radha Nagar?

The Sub Registrar Office that covers Radha Nagar is the Chennai South Joint II 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 Koladi

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

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, which could affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Radha Nagar?

The current guideline value of Radha Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking a total increase of 340% over the years.

What is the land classification of Radha Nagar?

Radha Nagar falls under the Residential Class II Type - I land classification.

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

The Sub Registrar Office for Radha Nagar is 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 Koladi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.