Guideline Value for Radha Nagar 2nd Street

Radha Nagar 2nd Street guideline value

The current guideline value of Radha Nagar 2nd Street is Rs 2,400 per sq.ft. 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 2nd Street has changed

The guideline value for Radha Nagar 2nd Street has undergone several revisions over the years. As of the 2012 revision, the value was Rs 2,200 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the value increased to Rs 2,400 per sq.ft, reflecting a 9% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values 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 the same as the 2024 figure for Radha Nagar 2nd Street.

• Radha Nagar Cross Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar Main Road: Rs 2,400 per sq.ft (2024)
• Radha Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar: 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 2nd 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 fees to Rs 2,16,000. It is important to note that the 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Radha Nagar 2nd Street?

The Sub Registrar Office that covers Radha Nagar 2nd 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 is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a reference point for both parties involved in the transaction.

Frequently asked questions

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

The current guideline value of Radha Nagar 2nd 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 increased from Rs 2,200 per sq.ft in 2012 to Rs 2,400 per sq.ft in 2024, marking a 9% rise. The value remained unchanged from 2012 to 2023.

What is the land classification for Radha Nagar 2nd Street?

Radha Nagar 2nd Street is classified as Commercial Class I Type - II.

Where can I find the registration office for Radha Nagar 2nd Street?

The registration office for Radha Nagar 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.