Guideline Value for RADIAL HOUSE BLOCK NO.5 (PLOT NO'S.1 & 12 TO 16)

Radial House Block No.5 (Plot No's.1 & 12 To 16) guideline value

The current guideline value for Radial House Block No.5 (Plot No's.1 & 12 To 16) is Rs 9,900 per sq.ft. This property is located in Padi village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Radial House Block No.5 (Plot No's.1 & 12 To 16) has changed

The guideline value for Radial House Block No.5 has seen several revisions over the years. The 2007 revision set the guideline value at Rs 900 per sq.ft. This increased significantly to Rs 9,000 per sq.ft in 2012, followed by a decrease to Rs 6,030 per sq.ft in 2017. The 2023 revision raised the value to Rs 9,000 per sq.ft, and the current 2024 revision has further increased it to Rs 9,900 per sq.ft. The register has no figure for the years 2002 and 2003 for this street.

From 2007 to 2012, there was a substantial increase of 900%. However, this was followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 1000% from 2007 to 2024.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median value for these streets is Rs 3,800 per sq.ft, indicating that the guideline value for Radial House Block No.5 is above this median.

• 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.6 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)
• Radial House Block No.7 (Plot No's.1 & 12 To 16): Rs 9,900 per sq.ft (2024)
• Radial House Block No.8 (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 No.5 (Plot No's.1 & 12 To 16)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. 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 Radial House Block No.5 (Plot No's.1 & 12 To 16)?

The Sub Registrar Office that covers Radial House Block No.5 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 factor in the registration process when buying or selling property in Padi. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the property is assessed fairly for registration purposes. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value for Radial House Block No.5?

The current guideline value for Radial House Block No.5 (Plot No's.1 & 12 To 16) is Rs 9,900 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has experienced several changes, increasing from Rs 900 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, marking an overall increase of 1000% over the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles the registration for this property?

The registration for Radial House Block No.5 is handled by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Radial House Block No.5?

The land classification for Radial House Block No.5 is Residential Special Type - II, indicating its designated use for residential purposes.