Guideline Value for Tambaram Mayor Radhakrishnan Nagar

Tambaram Mayor Radhakrishnan Nagar guideline value

The current guideline value of Tambaram Mayor Radhakrishnan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under Tambaram village and is classified as Residential Class II Type - I within the Tambaram Joint 1 SRO.

How the guideline value of Tambaram Mayor Radhakrishnan Nagar has changed

The guideline value for Tambaram Mayor Radhakrishnan Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 804 per sq.ft. This was a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and further increased it to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The 2017 revision did not have a figure for this street in the register, and the revisions from 2002, 2003, and 2007 also show no figures for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 figure for Tambaram Mayor Radhakrishnan Nagar below this median.

• Sweeper Quarters: Rs 1,320 per sq.ft (2024)
• Suthanthrapuram: Rs 1,650 per sq.ft (2024)
• Thangavel Street: Rs 2,200 per sq.ft (2024)
• Subbiah Nagar: Rs 2,200 per sq.ft (2024)
• Subash Nagar: Rs 3,300 per sq.ft (2024)
• State Bank Colony: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Tambaram Mayor Radhakrishnan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tambaram Mayor Radhakrishnan Nagar?

The Tambaram Mayor Radhakrishnan Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Tambaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers should be aware that these values can change periodically, which may affect their financial obligations during the purchase process.

Frequently asked questions

What is the current guideline value of Tambaram Mayor Radhakrishnan Nagar?

The current guideline value of Tambaram Mayor Radhakrishnan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then back to Rs 1,200 per sq.ft in 2023, finally reaching Rs 1,320 per sq.ft in 2024.

What is the land classification of Tambaram Mayor Radhakrishnan Nagar?

Tambaram Mayor Radhakrishnan Nagar is classified as Residential Class II Type - I.

What is the median guideline value in Tambaram?

The median guideline value in Tambaram is Rs 3,300 per sq.ft, which is above the current value of Tambaram Mayor Radhakrishnan Nagar.

Where can I find the Sub Registrar Office for this area?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can also find your SRO online.