Guideline Value for RADHAKRISHNAN NAGAR

Radhakrishnan Nagar guideline value

The current guideline value of Radhakrishnan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Radhakrishnan Nagar has changed

The guideline value for Radhakrishnan Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Radhakrishnan Nagar aligns with this median.

• Radhakrishnan Avenue: Rs 1,300 per sq.ft (2024)
• Radiance Prosper: Rs 7,463 per sq.ft (2024)
• Railway Station Road: Rs 2,800 per sq.ft (2024)
• Pudhiya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Poonthottam Lane: Rs 3,300 per sq.ft (2024)
• Poonganva Puram: Rs 2,150 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. Note that the duty is charged on the higher of the guideline value and the sale price.

You can also 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thiruvottiyur. It is used to determine the stamp duty and registration fees that are applicable during the registration of property sales. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the correct fees are paid during the registration process.

Frequently asked questions

What is the current guideline value of Radhakrishnan Nagar?

The current guideline value of Radhakrishnan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What are the stamp duty and registration fees for properties in Radhakrishnan Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Radhakrishnan Nagar?

The Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019, is responsible for Radhakrishnan Nagar.

What is the land classification of Radhakrishnan Nagar?

Radhakrishnan Nagar is classified as Residential Special Type - I, indicating its designation for residential use.