Guideline Value for Radha Nagar

Radha Nagar guideline value

The current guideline value of Radha Nagar, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

How the guideline value of Radha Nagar has changed

The guideline value for Radha Nagar has seen several revisions over the years. Starting from Rs 185 per sq.ft in 2002, it increased significantly to Rs 208 per sq.ft in 2003. The value then rose dramatically to Rs 1,800 per sq.ft in 2007, followed by a decrease to Rs 3,500 per sq.ft in 2012. The value saw another decline to Rs 2,345 per sq.ft in 2017, before increasing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft.

In terms of percentage changes, from 2002 to 2003, the increase was +12%. The jump from 2003 to 2007 was +765%. The value then decreased by -33% from 2012 to 2017. The increase from 2017 to 2023 was +49%, and the latest revision from 2023 to 2024 reflects a +10% increase. Overall, from 2002 to 2024, the guideline value has risen by +1981%.

Guideline values in Velachery

Velachery village has a total of 2,691 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value in this area is Rs 4,400 per sq.ft, placing Radha Nagar's 2024 figure below this median.

• Radhamohan Street: Rs 6,600 per sq.ft (2024)
• Radha Nagar Extn: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 1st Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 2nd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar Extn Main Road: 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty, charged at 7%, would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, these fees would total Rs 3,46,500. It is important to note that 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?

The Sub Registrar Office that covers Radha Nagar 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 Velachery

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the legal and financial obligations associated with the transaction. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Radha Nagar?

The current guideline value of Radha Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 185 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting a total increase of +1981% over the years.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Radha Nagar?

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

Where can I find more information about guideline values in Velachery?

For more information about guideline values in Velachery, you can refer to the official guidelines provided by the Registration Department's guideline value register (TNReginet).