Guideline Value for Radio Station Road

Radio Station Road guideline value

The current guideline value of Radio Station Road 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 Road has changed

The guideline value for Radio Station Road has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. Radio Station Road's 2024 figure aligns perfectly with this median.

• Radio Station Lane: 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 Road

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

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radio Station Road?

The Sub Registrar Office that covers Radio Station Road 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 plays a crucial role in the registration of property transactions in Parangimalai. When a property is sold or purchased, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally recognized and documented.

It is essential for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market, making it a vital reference point during property dealings.

Frequently asked questions

What is the current guideline value of Radio Station Road?

The current guideline value of Radio Station Road 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 from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for Radio Station Road?

Radio Station Road is classified as Residential Class II Type - I under the Chennai South Joint II SRO.

Where is the Sub Registrar Office for Radio Station Road located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 3,46,500.