Guideline Value for Radio Station Lane

Radio Station Lane guideline value

The current guideline value of Radio Station Lane in Parangimalai village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Radio Station Lane has changed

The guideline value for Radio Station Lane has seen several revisions over the years. In 2002, the value was Rs 542 per sq.ft, which increased to Rs 678 per sq.ft in 2003, marking a 25% rise. The following revisions showed significant changes: in 2007, the value jumped to Rs 1,100 per sq.ft, a 62% increase from 2003. By 2012, the value rose to Rs 3,500 per sq.ft, reflecting a substantial 218% increase from 2007. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33% from the previous revision. The guideline value then increased to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,850 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 610%. The register has no figures for the years between these revisions for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a guideline value for 2024, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is equal to the current value of Radio Station Lane.

• Radio Station Road: Rs 3,850 per sq.ft (2024)
• Railway Station Road: Rs 4,400 per sq.ft (2024)
• Pudu Street: Rs 3,300 per sq.ft (2024)
• Rajaji Street: Rs 3,850 per sq.ft (2024)
• Rajaji Street (Kalaignar Nagar): Rs 3,850 per sq.ft (2024)
• Pudhupettai Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Radio Station Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Radio Station Lane?

The Sub Registrar Office that covers Radio Station Lane is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Parangimalai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the official value assigned to the property.

It is essential for buyers and sellers to be informed about the current guideline value to avoid any discrepancies during the registration process. The guideline value reflects the official assessment of property worth in the area, which is used by the registration authorities.

Frequently asked questions

What is the current guideline value of Radio Station Lane?

The current guideline value of Radio Station Lane is Rs 3,850 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 542 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 610% over this period.

What is the land classification for Radio Station Lane?

Radio Station Lane is classified as Residential Class II Type - I, indicating its use for residential purposes.

What are the stamp duty rates for property in Radio Station Lane?

The stamp duty for property in Radio Station Lane is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Radio Station Lane?

The Sub Registrar Office for Radio Station Lane is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.