Guideline Value for Radhakrishnan Nagar

Radhakrishnan Nagar guideline value

The current guideline value of Radhakrishnan Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village, under the jurisdiction of the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Radhakrishnan Nagar has changed

The guideline value for Radhakrishnan Nagar has seen several revisions over the years. In 2002, the value was Rs 63 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a change of +421%. The value further rose to Rs 1,200 per sq.ft in 2012, representing an increase of +266%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, showing a decline of -33%. The value then increased to Rs 1,200 per sq.ft in 2023, and remained the same in 2024, indicating no change from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1,805%. It is important to note that the register has no figure for this street in 2003.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO, with a 2024 guideline value range from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Radhakrishnan Nagar's 2024 figure below that median.

• Radha Nagar (212/2): Rs 2,000 per sq.ft (2024)
• Radha Nagar (Near G.S.T Road): Rs 3,500 per sq.ft (2024)
• P.R.V. Nagar: Rs 1,000 per sq.ft (2024)
• Priya Nagar: Rs 1,500 per sq.ft (2024)
• Prabhu Avenue: Rs 1,200 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 more details.

Which Sub Registrar Office covers Radhakrishnan Nagar?

The Sub Registrar Office that covers Radhakrishnan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Radhakrishnan Nagar?

The current guideline value of Radhakrishnan Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 63 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, marking an overall increase of +1,805% over the years.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,08,000.

Which Sub Registrar Office covers Radhakrishnan Nagar?

The Gooduvancheri Sub Registrar Office covers Radhakrishnan Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification of Radhakrishnan Nagar?

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