Guideline Value for Radha Nagar Extn

Radha Nagar Extn guideline value

The current guideline value of Radha Nagar Extn is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Radha Nagar Extn has changed

The guideline value of Radha Nagar Extn has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, from 2012 to 2017, it decreased to Rs 2,345 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,850 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 114%. The register does not have figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median of Rs 4,400 per sq.ft. The guideline value for Radha Nagar Extn is below this median.

• Radha Nagar Extn 1st Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 2nd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn Main Road: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn Main Road 1st Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn Main Road 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Nagar Extn

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, bringing the total fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Radha Nagar Extn?

The Sub Registrar Office that covers Radha Nagar Extn is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Velachery. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to consult the guideline value to ensure that all necessary fees are accurately calculated. This helps in understanding the financial implications of the purchase or sale.

Frequently asked questions

What is the current guideline value of Radha Nagar Extn?

The current guideline value of Radha Nagar Extn 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 1,800 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 114% over the years.

What are the stamp duty and registration fees for properties in Radha Nagar Extn?

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.

Which Sub Registrar Office is responsible for Radha Nagar Extn?

The Velacheri Sub Registrar Office is responsible for Radha Nagar Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Radha Nagar Extn?

Radha Nagar Extn is classified as Residential Class II Type - III, which indicates the type of development allowed in the area.