Guideline Value for Radha Nagar 1st to 14th Cross Street

Radha Nagar 1st to 14th Cross Street guideline value

The current guideline value of Radha Nagar 1st to 14th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Radha Nagar 1st to 14th Cross Street has changed

The guideline value for Radha Nagar 1st to 14th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 10% in the guideline value.

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 in this area is Rs 2,725 per sq.ft, making the current value for Radha Nagar 1st to 14th Cross Street above this median.

• Radha Nagar 1st to 5th Main Road: Rs 3,300 per sq.ft (2024)
• Radha Nagar Ambethkar Street: Rs 3,300 per sq.ft (2024)
• Radha Nagar: Rs 3,300 per sq.ft (2024)
• Radiance Garnet: Rs 4,300 per sq.ft (2024)
• Radiance Mercury: Rs 2,725 per sq.ft (2024)
• Pudhu Nagar Nethaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Nagar 1st to 14th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Radha Nagar 1st to 14th Cross Street?

The Sub Registrar Office that covers Radha Nagar 1st to 14th Cross 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 Perumbakkam

The guideline value is a crucial factor when registering property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated based on this value or the actual sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value as it directly impacts the financial obligations involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Radha Nagar 1st to 14th Cross Street?

The current guideline value of Radha Nagar 1st to 14th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and now to Rs 3,300 per sq.ft in 2024.

What is the land classification for Radha Nagar 1st to 14th Cross Street?

The land classification for Radha Nagar 1st to 14th Cross Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Radha Nagar 1st to 14th Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 2,31,000.