Guideline Value for ALL INDIAN RADIO 2ND STREET

All Indian Radio 2nd Street guideline value

The current guideline value of All Indian Radio 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of All Indian Radio 2nd Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure remained the same in the 2012 and 2017 revisions. However, in 2017, the value decreased to Rs 2,345 per sq.ft, marking a decline of 33%. The value then saw a significant increase in the 2023 revision to Rs 3,500 per sq.ft, followed by another increase to Rs 3,900 per sq.ft in the 2024 revision, which represents an 11% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been an increase of 11%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing All Indian Radio 2nd Street's 2024 figure above this median.

• All Indian Radio 1st Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 3rd Street: Rs 3,900 per sq.ft (2024)
• All Indian Radio 4th Street: Rs 3,900 per sq.ft (2024)
• All India Radio Staff Colony: Rs 2,200 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 Indian Radio 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers All Indian Radio 2nd Street?

The Sub Registrar Office that covers All Indian Radio 2nd Street is 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 details.

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

The guideline value is a crucial factor when registering property transactions in Palavakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is bought or sold, the registration office uses the guideline value to assess the applicable charges. Buyers and sellers must be aware that the duty is calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of All Indian Radio 2nd Street?

The current guideline value of All Indian Radio 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 3,500 in 2012 to Rs 2,345 in 2017, then rising to Rs 3,500 in 2023 and finally to Rs 3,900 in 2024.

What is the land classification for All Indian Radio 2nd Street?

All Indian Radio 2nd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for All Indian Radio 2nd Street located?

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