Guideline Value for Radha Nagar 2nd Street

Radha Nagar 2nd Street guideline value

The current guideline value of Radha Nagar 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

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. The 2012 revision set the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. The current 2024 revision has increased the value to Rs 3,850 per sq.ft, marking a significant increase of 64% from 2017 to 2024. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

Notably, there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The fluctuations in the guideline value reflect changes in the area's classification and market conditions.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the current guideline value for Radha Nagar 2nd Street.

• Radha Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Anex: Rs 3,850 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 rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Radha Nagar 2nd Street?

The Sub Registrar Office covering Radha Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value ensures transparency and fairness in the transaction process. It helps in determining the minimum price at which a property can be registered, thus preventing undervaluation.

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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

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

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

Where can I find the Sub Registrar Office for Radha Nagar 2nd Street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Radha Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.