Guideline Value for RADIAL HOUSE BLOCK NO.9 TO 50

Radial House Block No.9 To 50 guideline value

The current guideline value for Radial House Block No.9 To 50 is Rs 3,800 per sq.ft, effective from 1 July 2024. This property is located in Padi village under the Villivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Radial House Block No.9 To 50 has changed

The guideline value for this area has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, before rising again to the current Rs 3,800 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, the guideline value has increased by 9% from the 2012 revision to the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the current guideline value for Radial House Block No.9 To 50.

• Radial House Block No.8 (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.6 (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.4 (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)

Stamp duty and registration fee for property in Radial House Block No.9 To 50

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees Rs 3,42,000. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radial House Block No.9 To 50?

The Sub Registrar Office that covers Radial House Block No.9 To 50 is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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 serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value or the sale price is considered, with the higher amount being used to determine the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Radial House Block No.9 To 50?

The current guideline value for Radial House Block No.9 To 50 is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,800 per sq.ft in 2024. This represents a significant increase from the 2017 value.

What is the land classification for Radial House Block No.9 To 50?

Radial House Block No.9 To 50 is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Villivakkam Sub Registrar Office covers Radial House Block No.9 To 50, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at the rate of 7%.