Guideline Value for Radha Nagar Main Road

Radha Nagar Main Road guideline value

The current guideline value of Radha Nagar Main Road in Madambakkam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Radha Nagar Main Road has changed

The guideline value for Radha Nagar Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was updated to Rs 2,200 per sq.ft, and then increased to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

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 for these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value for Radha Nagar Main Road.

• Radha Nagar Cross Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar 2nd Street: 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total cost Rs 2,16,000. 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 Main Road?

The Sub Registrar Office that covers Radha Nagar 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 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 on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value serves as a benchmark for the transaction value, ensuring that both parties are aware of the official valuation set by the government.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is legally recognized and that the government receives the necessary revenue from property sales.

Frequently asked questions

What is the current guideline value of Radha Nagar Main Road?

The current guideline value of Radha Nagar Main Road is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,200 per sq.ft from 2012 to 2023, before increasing to Rs 2,400 per sq.ft in 2024. Overall, there has been a 9% increase in the guideline value from 2012 to 2024.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam that share the same guideline value of Rs 2,400 per sq.ft include Radha Nagar Cross Street, Radha Nagar 2nd Street, Radha Nagar 1st Street, and Radha Nagar itself.

What fees are associated with buying property on Radha Nagar Main Road?

When buying property on Radha Nagar Main Road, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Radha Nagar Main Road?

The Sub Registrar Office covering Radha Nagar Main Road is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.