Guideline Value for Radha Nagar

Radha Nagar guideline value

The current guideline value of Radha Nagar, located in Madambakkam village under the Selaiyur SRO, is Rs 2,400 per sq.ft. This value is effective from the 2024 revision, which reflects the land classification as Commercial Class I Type - II.

How the guideline value of Radha Nagar has changed

Since the 2012 revision, the guideline value for Radha Nagar has seen a consistent figure of Rs 2,200 per sq.ft until the 2023 revision. In 2023, the value remained unchanged at Rs 2,200 per sq.ft, but in 2024, it increased to Rs 2,400 per sq.ft, marking a 9% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 9%. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1151 streets under the Selaiyur SRO, with the 2024 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 aligns with the current value for Radha Nagar.

• Radha Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar Cross Street: Rs 2,400 per sq.ft (2024)
• Radha Nagar Main Road: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can 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 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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives 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 2,400 per sq.ft, effective from the 2024 revision.

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 rising to Rs 2,400 per sq.ft in 2024, marking a total increase of 9% from 2012 to 2024.

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

Other streets in Madambakkam with a guideline value of Rs 2,400 per sq.ft include Radha Nagar 1st Street, Radha Nagar 2nd Street, Radha Nagar Cross Street, and Radha Nagar Main Road.

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

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which Sub Registrar Office covers Radha Nagar?

The Selaiyur Sub Registrar Office covers Radha Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.