Guideline Value for Radhakrishnan Nagar

Radhakrishnan Nagar guideline value

The current guideline value of Radhakrishnan Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai 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 undergone several revisions over the years. Starting with Rs 50 per sq.ft in 2007, the value increased significantly to Rs 800 per sq.ft in 2012, marking a 1500% increase. However, it then decreased to Rs 536 per sq.ft in 2017, reflecting a 33% drop. The value saw a substantial rise again, reaching Rs 800 per sq.ft in 2023, and then further increased by 10% to Rs 880 per sq.ft in the 2024 revision.

There are no figures available for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and the overall increase from 2007 to 2024 is a remarkable 1660%.

Guideline values in Nandambakkam

Nandambakkam village has a range of guideline values across its 94 streets under the Padappai SRO, with values varying from Rs 440 to Rs 2,300 per sq.ft. The median guideline value is Rs 880 per sq.ft, which aligns with Radhakrishnan Nagar's current value.

• Rahmaniya Nagar: Rs 770 per sq.ft (2024)
• Rahmaniya Nagar Phase - II: Rs 770 per sq.ft (2024)
• P.T.C. Nagar: Rs 770 per sq.ft (2024)
• P.T.C.Colony: Rs 770 per sq.ft (2024)
• Rajiv Gandhi Nagar: Rs 990 per sq.ft (2024)
• Ramakrishna Nagar: Rs 770 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radhakrishnan Nagar?

The Sub Registrar Office that covers Radhakrishnan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is used to calculate the charges, ensuring that the transaction is in line with government regulations. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Radhakrishnan Nagar?

The current guideline value of Radhakrishnan Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, showing significant increases and a few decreases in between.

What is the role of the Padappai SRO?

The Padappai SRO is responsible for the registration of properties in the Nandambakkam area, including Radhakrishnan Nagar, and oversees the application of guideline values for property transactions.

What are the stamp duty rates in Radhakrishnan Nagar?

The stamp duty rate in Radhakrishnan Nagar is 7% of the guideline value or sale price, whichever is higher.

How can I calculate the registration fees?

The registration fee is calculated at 2% of the guideline value or sale price, whichever is higher. For a detailed calculation, you can use the stamp duty and registration fee calculator.