Guideline Value for RDA Nagar

RDA Nagar guideline value

The current guideline value of RDA Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of RDA Nagar has changed

Over the years, the guideline value for RDA Nagar has seen significant changes. The 2007 revision recorded a value of Rs 120 per sq.ft, which increased dramatically to Rs 900 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value dropped to Rs 603 per sq.ft, a decrease of 33%. The value then rose again to Rs 900 per sq.ft in 2023, followed by a further increase to Rs 990 per sq.ft in the 2024 revision, representing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 725%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing RDA Nagar's 2024 figure below this median.

• Rd Golden Meadows: Rs 3,470 per sq.ft (2024)
• Rayappa Nagar: Rs 1,650 per sq.ft (2024)
• Riya Avenue: Rs 2,220 per sq.ft (2024)
• Rose Garden: Rs 990 per sq.ft (2024)
• Royal Garden: Rs 990 per sq.ft (2024)
• Sai Beverly Hills: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in RDA Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RDA Nagar?

The Sub Registrar Office that covers RDA Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of the property transaction. It is advisable to consult the latest guideline values and related fees to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of RDA Nagar?

The current guideline value of RDA Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What are the stamp duty and registration fees for property in RDA Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 89,100.

Where can I find the Sub Registrar Office for RDA Nagar?

The Sub Registrar Office for RDA Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of RDA Nagar?

RDA Nagar falls under the Residential Class III Type - I land classification, which is important for determining the appropriate uses and regulations for the property.