Guideline Value for Radha Nagar

Radha Nagar guideline value

The current guideline value of Radha Nagar, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I 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 429 per sq.ft in 2002, it rose to Rs 467 in 2003, marking an increase of 9%. The value then increased by 7% to reach Rs 500 in 2007. A significant jump occurred in 2012 when the guideline value surged to Rs 3,500 per sq.ft, reflecting a 600% increase from the previous figure. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%.

As of the latest revision in 2024, the guideline value stands at Rs 3,850 per sq.ft, which represents a substantial increase of 64% from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 797%. It is important to note that the register has no figure for the year 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current figure for Radha Nagar.

• Radha Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 6th Street: 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 amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Understanding this value helps in making informed decisions during the buying or selling 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 from Rs 429 in 2002 to Rs 3,850 in 2024, reflecting an overall increase of 797% over this period.

What is the land classification for Radha Nagar?

Radha Nagar falls under the Residential Class II Type - I land classification, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Radha Nagar?

The Virugambakkam Sub Registrar Office, which covers Radha Nagar, is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Radha Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.