Guideline Value for S. Radhakrishnan Nagar

S. Radhakrishnan Nagar guideline value

The current guideline value of S. Radhakrishnan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Chettimedu village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of S. Radhakrishnan Nagar has changed

The guideline value for S. Radhakrishnan Nagar has undergone several revisions over the years. In 2003, the value was Rs 27 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The value then rose to Rs 500 per sq.ft in 2012, before dropping to Rs 335 per sq.ft in 2017. Following this, the value saw an increase to Rs 500 per sq.ft in 2023, and now stands at Rs 1,000 per sq.ft from the 2024 revision.

Notably, the changes between revisions include a 1381% increase from 2003 to 2007, a 25% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 100% increase from 2023 to 2024. The register has no figure for this street in 2002.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, placing S. Radhakrishnan Nagar's 2024 figure below that median.

• Sornambigai Nagar: Rs 1,000 per sq.ft (2024)
• Sri Dhanya lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Sri Nagar: Rs 1,002 per sq.ft (2024)
• Sri Uma Mageshwari Nagar: Rs 1,006 per sq.ft (2024)
• Suba Lakshmi Nagar: Rs 1,000 per sq.ft (2024)
• Santhose Colony: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in S. Radhakrishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost to Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S. Radhakrishnan Nagar?

The Sub Registrar Office that covers S. Radhakrishnan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Chettimedu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed based on current market conditions.

Frequently asked questions

What is the current guideline value of S. Radhakrishnan Nagar?

The current guideline value of S. Radhakrishnan Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 27 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value for streets in Chettimedu?

The median guideline value for streets in Chettimedu is Rs 1,002 per sq.ft, with S. Radhakrishnan Nagar's value being below this median.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 10,00,000, the total fees would be Rs 90,000.

Which office handles registrations for S. Radhakrishnan Nagar?

The Redhills Sub Registrar Office handles registrations for S. Radhakrishnan Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.