Guideline Value for Radha Street

Radha Street guideline value

The current guideline value of Radha Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Radha Street has changed

The guideline value for Radha Street has seen significant changes over the years. In 2002, the value was Rs 429 per sq.ft, which increased to Rs 467 per sq.ft in 2003, marking a 9% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a 7% increase. The most dramatic change occurred between 2007 and 2012, where the value jumped to Rs 4,000 per sq.ft, a staggering 700% increase.

From 2012 to 2024, the guideline value rose by 10%, bringing it to the current rate of Rs 4,400 per sq.ft. It is important to note that there are no figures available for the revisions in 2017 and 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, with a median value of Rs 3,850 per sq.ft. Radha Street's guideline value is above this median, indicating its relative standing in the area.

• Radha Nagar Anex: Rs 3,850 per sq.ft (2024)
• Radha Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Radha Nagar 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Radha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It is important to 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 further calculations.

Which Sub Registrar Office covers Radha Street?

Radha Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning during the transaction process.

When registering a property, the guideline value is considered the minimum value for the transaction, which means that it cannot be lower than the guideline value set by the authorities. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Radha Street?

The current guideline value of Radha Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 429 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 926% over this period.

What is the registration office for Radha Street?

The registration office for Radha Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the stamp duty on property in Radha Street?

The stamp duty on property in Radha Street is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets with similar guideline values in Valasaravakkam?

Yes, there are several other streets in Valasaravakkam with a guideline value of Rs 3,850 per sq.ft, including Radha Nagar Anex, Radha Nagar 6th Street, and others.