Guideline Value for Radha Nagar

Radha Nagar guideline value

The current guideline value of Radha Nagar, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Radha Nagar has changed

The guideline value for Radha Nagar has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value rose significantly to Rs 1,500 per sq.ft in 2023, and further increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The changes between the revisions indicate a fluctuation in the property values, with the most notable increase occurring between the 2017 and 2023 revisions, which saw a 49% rise.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Radha Nagar is below this median.

• Pulikoradu Road: Rs 2,200 per sq.ft (2024)
• Rajagopal Street: Rs 4,400 per sq.ft (2024)
• Rajaji Road/Street: Rs 6,600 per sq.ft (2024)
• Rajaji Street 1st Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• Rajaji Street 3rd Land: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged based on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Radha Nagar?

The Sub Registrar Office that covers Radha Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role in the registration process when buying or selling property in Tambaram. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is documented accurately according to the prevailing rates.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Radha Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the land classification for Radha Nagar?

Radha Nagar is classified as Residential Class I Type - III, indicating its designation for residential development.

What are the stamp duty rates for property in Radha Nagar?

The stamp duty rate for property in Radha Nagar is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Radha Nagar located?

The Sub Registrar Office for Radha Nagar is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.