Guideline Value for Radha Nagar 1st to 5th Main Road

Radha Nagar 1st to 5th Main Road guideline value

The current guideline value for Radha Nagar 1st to 5th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Radha Nagar 1st to 5th Main Road has changed

The guideline value for Radha Nagar 1st to 5th Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced 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, and further rose to Rs 3,300 per sq.ft in the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

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 value for these streets is Rs 2,725 per sq.ft, placing Radha Nagar 1st to 5th Main Road above this median.

• Radha Nagar 1st to 14th Cross Street: 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 5th Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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 information.

Which Sub Registrar Office covers Radha Nagar 1st to 5th Main Road?

The Sub Registrar Office that covers Radha Nagar 1st to 5th Main Road 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Radha Nagar 1st to 5th Main Road?

The current guideline value for Radha Nagar 1st to 5th Main Road 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 back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Radha Nagar 1st to 5th Main Road?

Radha Nagar 1st to 5th Main Road is classified as Residential Special Type - II.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or the sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.