Guideline Value for Radha Nagar

Radha Nagar guideline value

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

How the guideline value of Radha Nagar has changed

The guideline value for Radha Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 1,500 per sq.ft. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the guideline value for Radha Nagar was not specified in the register for the aforementioned years. The increase from 2023 to 2024 marks a significant adjustment in the guideline value for this area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value for Radha Nagar is below this median.

• Radha Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Puzhuthivakkam Village Road: Rs 2,750 per sq.ft (2024)
• Puzhuthivakkam Main Road: Rs 2,750 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)

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, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. Duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radha Nagar?

Radha Nagar falls under the jurisdiction of 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 information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor during property transactions in Madipakkam-1, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

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 for Radha Nagar was Rs 1,500 per sq.ft in 2023 and increased to Rs 1,650 per sq.ft in 2024, marking a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

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

Other streets in Madipakkam-1 have varying guideline values. For example, Radha Nagar Main Road is Rs 1,650 per sq.ft, while Puzhuthivakkam Village Road and Puzhuthivakkam Main Road are both Rs 2,750 per sq.ft.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total fees would be Rs 1,48,500.

Which office handles registrations for Radha Nagar?

The Velacheri Sub Registrar Office handles registrations for Radha Nagar. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.