Guideline Value for Radhakrishnan Nagar

Radhakrishnan Nagar guideline value

The current guideline value of Radhakrishnan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this region is Residential Class IV 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 from the 2002 revision, the value was Rs 122 per sq.ft. This increased to Rs 133 per sq.ft in 2003, marking a change of +9%. The value saw a significant rise to Rs 700 per sq.ft in 2007, which was a staggering increase of +426%. In 2012, the guideline value remained at Rs 2,000 per sq.ft, showing no change from the previous revision. The 2023 revision also maintained this figure of Rs 2,000 per sq.ft, before finally increasing to Rs 2,200 per sq.ft in 2024, reflecting a +10% change.

It is important to note that the register has no figure for this street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +1703%.

Guideline values in Kolathur

In Kolathur village, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Radhakrishnan Nagar's 2024 figure is below this median.

• Ragavendhara Nagar: Rs 2,200 per sq.ft (2024)
• Puthar Street: Rs 2,200 per sq.ft (2024)
• Punniakodi Nagar: Rs 2,200 per sq.ft (2024)
• Rajaji Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 11th Street: Rs 3,300 per sq.ft (2024)
• Rajaji Nagar 12th Street: Rs 3,300 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, which totals Rs 1,54,000, and the registration fee at 2% amounts to Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Radhakrishnan Nagar?

The Sub Registrar Office that covers Radhakrishnan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Additionally, understanding the guideline value is essential for both buyers and sellers as it reflects the official valuation of the property, which can influence negotiations and final sale agreements.

Frequently asked questions

What is the current guideline value of Radhakrishnan Nagar?

The current guideline value of Radhakrishnan Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 122 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing a significant overall increase of +1703% over the years.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with a guideline value of Rs 2,200 per sq.ft for 2024 include Ragavendhara Nagar, Puthar Street, and Punniakodi Nagar.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Radhakrishnan Nagar?

The Sub Registrar Office for Radhakrishnan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.