Guideline Value for RADHAKRISHNAN NAGAR

Radhakrishnan Nagar guideline value

The current guideline value of Radhakrishnan Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Radhakrishnan Nagar has changed

Over the years, the guideline value of Radhakrishnan Nagar has seen several revisions. The 2012 revision set the value at Rs 850 per sq.ft, which was later reduced to Rs 569 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 850 per sq.ft, and the most recent 2024 revision has set it at Rs 935 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, while the jump from 2017 to 2023 saw an increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kannampalayam

In Kannampalayam village, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 765 to Rs 4,000 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for Radhakrishnan Nagar is below this median.

• Radha Krishna Garden: Rs 935 per sq.ft (2024)
• Rajammal Nagar: Rs 935 per sq.ft (2024)
• P.K.S. Nagar: Rs 1,320 per sq.ft (2024)
• Perumal Koil Street: Rs 765 per sq.ft (2024)
• R.A. Nagar: Rs 990 per sq.ft (2024)
• Sai Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total to Rs 84,150. Duty is charged on the higher of the guideline value and the sale price. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai - 600 069. You can find your SRO for more information.

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Kannampalayam, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is important to note that the stamp duty is charged based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Radhakrishnan Nagar?

The current guideline value of Radhakrishnan Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then back to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Radhakrishnan Nagar?

Radhakrishnan Nagar is classified as Residential Special Type - III.

What is the stamp duty rate in Radhakrishnan Nagar?

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

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai - 600 069.