Guideline Value for Radhakrishnan Nagar

Radhakrishnan Nagar guideline value

The current guideline value of Radhakrishnan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Radhakrishnan Nagar has changed

The guideline value for Radhakrishnan Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw the guideline value further increase to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Radhakrishnan Nagar's 2024 figure below that median.

• Prabha Garden (ward 5): Rs 1,650 per sq.ft (2024)
• Poomalai: Rs 3,300 per sq.ft (2024)
• Rajendran Nagar: Rs 6,850 per sq.ft (2024)
• Ramakrishna Nagar: Rs 2,750 per sq.ft (2024)
• Ramakrishna Nagar Annex: Rs 3,290 per sq.ft (2024)
• Ramakrishna Nagar Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost together to Rs 1,78,200. 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 accurate calculations.

Which Sub Registrar Office covers Radhakrishnan Nagar?

The Sub Registrar Office that covers Radhakrishnan Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process for property transactions in Kolapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value serves as a benchmark, and the fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Radhakrishnan Nagar?

The current guideline value of Radhakrishnan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 64% over this period.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office is responsible for Radhakrishnan Nagar?

The Pammal Sub Registrar Office is responsible for Radhakrishnan Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Radhakrishnan Nagar?

Radhakrishnan Nagar is classified as Residential Class III Type - I according to the guideline value register.