Guideline Value for ALL INDIA RADIO STAFF COLONY

All India Radio Staff Colony guideline value

The current guideline value of All India Radio Staff Colony is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of All India Radio Staff Colony has changed

The guideline value for All India Radio Staff Colony has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 269 per sq.ft. This increased to Rs 370 per sq.ft in 2003, marking a 38% rise. The value then saw a significant increase to Rs 781 per sq.ft in 2007, which was a 111% change. In 2012, the guideline value was revised to Rs 2,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The value remained at Rs 2,000 per sq.ft until the 2017 revision, where it increased to Rs 1,340 per sq.ft.

In 2023, the guideline value was again revised to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 718%.

Guideline values in Palavakkam

Palavakkam village has a total of 349 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, and the value for All India Radio Staff Colony is below this median.

• All Indian Radio 4th Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 3rd Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 2nd Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 1st Street: Rs 3,900 per sq.ft (2024)
• A.M.Ali Street: Rs 1,700 per sq.ft (2024)
• Ambedkar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in All India Radio Staff Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers All India Radio Staff Colony?

The All India Radio Staff Colony falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value is often used as a benchmark for the property's value during registration.

When a property is sold, the guideline value helps in calculating the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of All India Radio Staff Colony?

The current guideline value of All India Radio Staff Colony 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 increased from Rs 269 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 718% over the years.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, with All India Radio Staff Colony's guideline value being below this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.