Guideline Value for RADHA STREET/NAGAR

Radha Street/Nagar guideline value

The current guideline value of Radha Street/Nagar in Chinnasekkadu village is Rs 1,001 per sq.ft, effective from 1 July 2024. This area falls under the Thiruvottiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Radha Street/Nagar has changed

The guideline value for Radha Street/Nagar has undergone several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 77 per sq.ft. This increased to Rs 200 per sq.ft in 2007, then further rose to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in 2017. From 2017 to 2023, the value saw a significant increase to Rs 1,000 per sq.ft, and it remained at this rate until the 2024 revision, which set the value at Rs 1,001 per sq.ft. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 1200%. Notably, the change from 2012 to 2017 was a decrease of 33%, while the most significant increase was from 2017 to 2023, which saw a rise of 149%.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Radha Street/Nagar's 2024 figure below this median.

• Raghavan Street: Rs 1,300 per sq.ft (2024)
• Puddhapiran Street: Rs 1,300 per sq.ft (2024)
• Ponnuswamy Street: Rs 1,001 per sq.ft (2024)
• Raji Street / Raji Naickan Street: Rs 1,300 per sq.ft (2024)
• Ramalingaswamy Koil Street: Rs 1,001 per sq.ft (2024)
• Perumal Koil Street/Mallikai Nagar: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Street/Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost for these fees to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radha Street/Nagar?

The Sub Registrar Office that covers Radha Street/Nagar is 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 Chinnasekkadu

The guideline value plays a crucial role during the registration of property transactions in Chinnasekkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Radha Street/Nagar?

The current guideline value for Radha Street/Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 77 per sq.ft in 2003 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 1200% over this period.

What is the land classification for Radha Street/Nagar?

Radha Street/Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Radha Street/Nagar?

For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070, and the registration fee would be Rs 20,020, totaling Rs 90,090.

Which office handles property registrations for Radha Street/Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Radha Street/Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.