Guideline Value for RADIAL HOUSE BLOCK 51 To 55

RADIAL HOUSE BLOCK 51 To 55 guideline value

The current guideline value for RADIAL HOUSE BLOCK 51 To 55 in Padi village, under the Villivakkam SRO, is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of RADIAL HOUSE BLOCK 51 To 55 has changed

The guideline value for RADIAL HOUSE BLOCK 51 To 55 has seen several revisions over the years. The 2012 revision set the value at Rs 7,500 per sq.ft, which decreased to Rs 5,025 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 7,500 per sq.ft, marking a rise of 49%. The most recent revision in 2024 raised the guideline value to Rs 8,200 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, placing RADIAL HOUSE BLOCK 51 To 55 above this median.

• Radial House Block No.1 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)
• Radial House Block No.2 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)
• Radial House Block No.3 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)
• Radial House Block No.4 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)
• Radial House Block No.5 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)
• Radial House Block No.6 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in RADIAL HOUSE BLOCK 51 To 55

For a 1,000 sq.ft plot at the current rate of Rs 8,200 per sq.ft, the guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, totaling Rs 7,38,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers RADIAL HOUSE BLOCK 51 To 55?

The Sub Registrar Office that covers RADIAL HOUSE BLOCK 51 To 55 is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial metric used during the registration of properties in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transactions are transparent and fair.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with property transactions. This ensures that both buyers and sellers are aware of the financial implications before proceeding with a deal.

Frequently asked questions

What is the current guideline value for RADIAL HOUSE BLOCK 51 To 55?

The current guideline value for RADIAL HOUSE BLOCK 51 To 55 is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then increased to Rs 7,500 per sq.ft in 2023, and finally to Rs 8,200 per sq.ft in 2024.

What is the land classification for RADIAL HOUSE BLOCK 51 To 55?

RADIAL HOUSE BLOCK 51 To 55 is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers RADIAL HOUSE BLOCK 51 To 55, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.