Guideline Value for RADHAKRISHNAN NAGAR

Radhakrishnan Nagar guideline value

The current guideline value of Radhakrishnan Nagar, located in Puliyur village under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Radhakrishnan Nagar has changed

The guideline value for Radhakrishnan Nagar has undergone several revisions over the years. In 2002, the value was Rs 612 per sq.ft, which increased to Rs 672 per sq.ft in 2003. The value saw a significant rise to Rs 1,200 per sq.ft in 2007, followed by a decrease to Rs 4,600 per sq.ft in 2012. In 2017, the value was Rs 3,082 per sq.ft, and it increased to Rs 4,600 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft.

Analyzing the changes, from 2002 to 2024, there has been an overall increase of 717%. The changes between specific revisions include a 10% increase from 2002 to 2003, a 79% increase from 2003 to 2007, a 283% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, making the guideline value of Radhakrishnan Nagar below the median.

• Quida-E-Millath Street: Rs 3,800 per sq.ft (2024)
• Ragavan Colony: Rs 7,100 per sq.ft (2024)
• Raghavan Street: Rs 5,000 per sq.ft (2024)
• Punjab Garden Street: Rs 6,300 per sq.ft (2024)
• Railway Border Road: Rs 8,800 per sq.ft (2024)
• Railway Border Street: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Radhakrishnan Nagar?

The Sub Registrar Office that covers Radhakrishnan Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a buyer agrees on a sale price with the seller, the guideline value will be checked to ensure compliance with local regulations. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Radhakrishnan Nagar?

The current guideline value of Radhakrishnan Nagar is Rs 5,000 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 612 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 717% over the years.

What are the stamp duty rates for property transactions in Radhakrishnan Nagar?

The stamp duty rate for property transactions in Radhakrishnan Nagar is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Radhakrishnan Nagar is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value for streets in Puliyur?

The median guideline value for streets in Puliyur is Rs 5,800 per sq.ft, with Radhakrishnan Nagar's guideline value being below this median.