Guideline Value for Radha Nagar Main Road

Radha Nagar Main Road guideline value

The current guideline value for Radha Nagar Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Radha Nagar Main Road has changed

The guideline value for Radha Nagar Main Road has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,500 per sq.ft, and the most recent revision in 2024 increased this to Rs 1,650 per sq.ft, reflecting a change of +10% from the previous year.

Prior to the 2023 revision, no figures were recorded for the aforementioned years. The 2024 guideline value of Rs 1,650 per sq.ft is the latest and applies to transactions occurring after 1 July 2024.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Radha Nagar Main Road's 2024 figure below that median.

• Radha Nagar: Rs 1,650 per sq.ft (2024)
• Raghavendra Cross Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 1st Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 1st Street/Balaiya Garden: Rs 3,850 per sq.ft (2024)
• Raghavendra Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Raghavendra Street 3rd Street: Rs 2,200 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. 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 Main Road?

The Sub Registrar Office that covers Radha Nagar Main Road 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 Madipakkam-1

The guideline value is a crucial factor in the property registration process in Madipakkam-1. When you buy or sell property, the guideline value helps determine the stamp duty and registration fees applicable to the transaction.

It is essential to consider the guideline value during negotiations, as it provides a benchmark for property pricing in the area. This ensures that both buyers and sellers are aware of the minimum valuation set by the registration department.

Frequently asked questions

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

The current guideline value for Radha Nagar Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Radha Nagar Main Road has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a +10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values. For example, Raghavendra Cross Street has a guideline value of Rs 2,200 per sq.ft, while Raghavendra Street 1st Street/Balaiya Garden is valued at Rs 3,850 per sq.ft.

How is stamp duty calculated for properties in Radha Nagar Main Road?

Stamp duty for properties in Radha Nagar Main Road is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.

Where can I find more information about my Sub Registrar Office?

The Velacheri Sub Registrar Office covers Radha Nagar Main Road. You can find more information, including the address, by visiting the provided link to find your SRO.