Guideline Value for RADIANCE MERCURY

Radiance Mercury guideline value

The current guideline value of Radiance Mercury, located in Perumbakkam village under the Selaiyur SRO, is Rs 2,725 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of Radiance Mercury has changed

The guideline value for Radiance Mercury has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to the current rate of Rs 2,725 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a 9% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value is Rs 2,725 per sq.ft, which is equal to the current value of Radiance Mercury.

• Radiance Garnet: Rs 4,300 per sq.ft (2024)
• Radha Nagar Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Radha Nagar 1st to 5th Main Road: Rs 3,300 per sq.ft (2024)
• Radha Nagar 1st to 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Radha Nagar: Rs 3,300 per sq.ft (2024)
• Pudhu Nagar Nethaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Radiance Mercury

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value amounts to Rs 27,25,000. The stamp duty at 7% would be Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, bringing the total cost for these fees to Rs 2,45,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Radiance Mercury?

The Sub Registrar Office covering Radiance Mercury is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The stamp duty is calculated based on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Radiance Mercury?

The current guideline value of Radiance Mercury is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024.

What is the land classification for Radiance Mercury?

Radiance Mercury is classified as Residential Special Type - I, which indicates its designation for residential use.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Radiance Mercury?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,90,750.