Guideline Value for Radha Avenue 2nd Street

Radha Avenue 2nd Street guideline value

The current guideline value of Radha Avenue 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Radha Avenue 2nd Street has changed

The guideline value for Radha Avenue 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 243 per sq.ft, which increased to Rs 265 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 500 per sq.ft in 2007, reflecting an 89% increase. By 2012, the guideline value remained at Rs 3,500 per sq.ft, showing no change from the previous revision. The 2023 revision also held the value at Rs 3,500 per sq.ft.

In 2024, the guideline value was revised to Rs 3,850 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1484%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is the same as the 2024 guideline value for Radha Avenue 2nd Street.

• Radha Avenue 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Radha Avenue 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Radha Avenue 1st Street: Rs 3,850 per sq.ft (2024)
• Radha Avenue 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Avenue 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Radha Avenue 4th Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total charges would be Rs 3,46,500. 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 further calculations.

Which Sub Registrar Office covers Radha Avenue 2nd Street?

The Sub Registrar Office that covers Radha Avenue 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value serves as a benchmark for assessing the property’s worth and ensures that the transaction is registered at a fair value.

When selling property, the guideline value can influence the selling price, as it provides a reference point for both buyers and sellers. It is essential for buyers to be aware of the guideline value to ensure they are making informed decisions during the property transaction process.

Frequently asked questions

What is the current guideline value of Radha Avenue 2nd Street?

The current guideline value of Radha Avenue 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 243 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, which is an overall increase of 1484%.

What are the stamp duty and registration fees for property in Radha Avenue 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Radha Avenue 2nd Street?

The Virugambakkam Sub Registrar Office covers Radha Avenue 2nd Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Radha Avenue 2nd Street?

Radha Avenue 2nd Street is classified as Residential Class II Type - I.