Guideline Value for Radha Nagar 5th Street

Radha Nagar 5th Street guideline value

The current guideline value of Radha Nagar 5th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Radha Nagar 5th Street has changed

The guideline value for Radha Nagar 5th Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in 2017. However, the value saw a significant increase to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +64% from 2017. Overall, from 2012 to 2024, the guideline value increased by +10%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for Radha Nagar 5th Street. The 2012 revision was a decrease of -33% from the previous figure, indicating fluctuations in the guideline value over time.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values for 2024 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 guideline value of Radha Nagar 5th Street.

• Radha Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Anex: Rs 3,850 per sq.ft (2024)
• Radha Nagar 1st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total 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, making the total cost for these charges Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radha Nagar 5th Street?

Radha Nagar 5th Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Radha Nagar 5th Street?

The current guideline value of Radha Nagar 5th 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 5th Street?

Radha Nagar 5th Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Radha Nagar 5th Street located?

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