Guideline Value for Radha Nagar (Near G.S.T Road)

Radha Nagar (Near G.S.T Road) guideline value

The current guideline value of Radha Nagar (Near G.S.T Road) is Rs 3,500 per sq.ft, effective from 1 July 2024. This area is situated in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Radha Nagar (Near G.S.T Road) has changed

The guideline value for Radha Nagar has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 250% rise. However, this value dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value remained the same at Rs 3,500 per sq.ft in both 2023 and 2024, showing no change between these two revisions.

Notably, the guideline value has increased by 49% from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023. Overall, from 2007 to 2024, the increase stands at 250%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Radha Nagar's 2024 figure above this median.

• Radha Nagar (212/2): Rs 2,000 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,200 per sq.ft (2024)
• P.R.V. Nagar: Rs 1,000 per sq.ft (2024)
• Priya Nagar: Rs 1,500 per sq.ft (2024)
• Prabhu Avenue: Rs 1,200 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Nagar (Near G.S.T Road)

For a 1,000 sq.ft plot at the current rate of Rs 3,500 per sq.ft, the guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, totaling Rs 3,15,000. It is important to note that 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 Radha Nagar (Near G.S.T Road)?

The Sub Registrar Office that covers Radha Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair value of the property based on current market conditions. It is essential for both parties to be aware of the guideline value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of Radha Nagar?

The current guideline value of Radha Nagar (Near G.S.T Road) is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2012, then dropped to Rs 2,345 per sq.ft in 2017. It remained at Rs 3,500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft, with Radha Nagar's current value being above this median.

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

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Which office handles property registrations in Radha Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations in Radha Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202.