Guideline Value for Radha Nagar

Radha Nagar guideline value

The current guideline value of Radha Nagar, located in Padappai village under the Padappai SRO, is Rs 1,320 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Radha Nagar has changed

The guideline value of Radha Nagar has seen several revisions over the years. In 2007, the value was Rs 85 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose again to Rs 1,200 per sq.ft in 2023 before reaching the current rate of Rs 1,320 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

Between these revisions, the changes were notable. The increase from 2007 to 2012 was +1312%, followed by a decrease of -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and the most recent increase from 2023 to 2024 was +10%. Overall, from 2007 to 2024, the guideline value has increased by +1453%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value of Radha Nagar is above this median.

• Radiance Smartville: Rs 2,470 per sq.ft (2024)
• Pushpagiri Salai: Rs 830 per sq.ft (2024)
• Primier Nagar: Rs 990 per sq.ft (2024)
• Rajeswari Nagar: Rs 1,320 per sq.ft (2024)
• P.M.D Nagar: Rs 3,300 per sq.ft (2024)
• Perumal Koil Street: Rs 830 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total cost would be Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Radha Nagar?

The Sub Registrar Office that covers Radha Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the actual sale price, which ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value of Radha Nagar?

The current guideline value of Radha Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 85 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of +1453%.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations in Radha Nagar?

The Padappai Sub Registrar Office handles property registrations in Radha Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of properties, which affects the stamp duty and registration fees that buyers must pay during property transactions.