Guideline Value for RadhaBai Nagar

RadhaBai Nagar guideline value

The current guideline value of RadhaBai Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Kovur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of RadhaBai Nagar has changed

The guideline value for RadhaBai Nagar has undergone several revisions over the years. In the 2003 revision, the value was Rs 57 per sq.ft, which increased significantly to Rs 150 per sq.ft in 2007. The value then rose dramatically to Rs 1,500 per sq.ft in 2012, followed by a decrease to Rs 1,005 per sq.ft in 2017. The value saw a substantial increase to Rs 1,500 per sq.ft in the 2023 revision and finally reached Rs 1,650 per sq.ft in the 2024 revision.

Notably, there is no figure for RadhaBai Nagar in the 2002 revision. The changes in the guideline value between revisions include a 900% increase from 2007 to 2012, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 2795%.

Guideline values in Kovur

Kovur village has a range of guideline values across its 91 streets under the Kunrathur SRO, with the 2024 figures varying from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which matches the current guideline value for RadhaBai Nagar.

• Puroshthaman Nagar 3rd Street ext: Rs 2,750 per sq.ft (2024)
• Porur-Kundrathur Road: Rs 1,650 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 1,320 per sq.ft (2024)
• Perumal Koil Street: Rs 1,650 per sq.ft (2024)
• Royal Nagar: Rs 1,650 per sq.ft (2024)
• Rv Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in RadhaBai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value is 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, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers RadhaBai Nagar?

The Sub Registrar Office that covers RadhaBai Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Kovur. It serves as a reference for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of RadhaBai Nagar?

The current guideline value of RadhaBai 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 has changed significantly from Rs 57 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a high increase of 900% from 2007 to 2012.

What is the classification of land in RadhaBai Nagar?

RadhaBai Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for RadhaBai Nagar?

The registration office for RadhaBai Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.