Guideline Value for Radha Nagar 1st Street

Radha Nagar 1st Street guideline value

The current guideline value of Radha Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Radha Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,400 per sq.ft, marking a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of 9%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the guideline value of Radha Nagar 1st Street.

• Radha Nagar: Rs 2,400 per sq.ft (2024)
• Radha Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar Cross Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Professor Colony: Rs 3,800 per sq.ft (2024)
• Rajaji Nagar (Chozhen Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost to Rs 2,16,000. Duty is charged on the guideline value or the sale price, whichever is higher.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Radha Nagar 1st Street?

The Sub Registrar Office that covers Radha Nagar 1st Street 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 Madambakkam

The guideline value plays a crucial role during property registration in Madambakkam. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is documented at a value that reflects the current market conditions as per the government regulations. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Radha Nagar 1st Street?

The current guideline value of Radha Nagar 1st Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, marking a 9% increase overall. There was no change in the value from 2012 to 2023.

What are the other streets with the same guideline value in Madambakkam?

Other streets in Madambakkam with the same guideline value of Rs 2,400 per sq.ft include Radha Nagar, Radha Nagar 2nd Street, Radha Nagar Cross Street, and Radha Nagar Main Road.

What is the registration fee for a property in Radha Nagar 1st Street?

The registration fee for a property in Radha Nagar 1st Street is calculated at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the registration fee would be Rs 48,000.

Where is the Sub Registrar Office for Radha Nagar 1st Street located?

The Sub Registrar Office for Radha Nagar 1st Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.