Guideline Value for DR. RADHAKRISHNAN 7TH STREET

Dr. Radhakrishnan 7th Street guideline value

The current guideline value of Dr. Radhakrishnan 7th Street is Rs 16,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dr. Radhakrishnan 7th Street has changed

The guideline value for Dr. Radhakrishnan 7th Street has experienced several revisions over the years. The earliest recorded revision in 2002 set the value at Rs 1,380 per sq.ft. This figure increased significantly to Rs 1,533 per sq.ft in 2003, marking an increase of 11%. Following this, the value remained unchanged at Rs 1,540 per sq.ft in 2007. A substantial increase occurred in 2012, with the guideline value rising to Rs 15,000 per sq.ft, representing an increase of 874%. However, from 2012 to 2017, the value decreased to Rs 10,050 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 16,500 per sq.ft, reflecting a notable increase of 64% from the 2017 figure. The register has no figure for the year 2023 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing the 2024 guideline value of Dr. Radhakrishnan 7th Street above this median.

• Dr. Radhakrishnan 6th Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 8th Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 6th Lane(Jp Avenue): Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 9th Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 5th Street: Rs 16,500 per sq.ft (2024)
• Dr. Radhakrishnan 4th Street: Rs 25,800 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Radhakrishnan 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value would be Rs 1,65,00,000. The stamp duty at 7% would amount to Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, bringing the total cost for these fees to Rs 14,85,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Radhakrishnan 7th Street?

The Sub Registrar Office that covers Dr. Radhakrishnan 7th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that the guideline value is set by the government and is subject to periodic revisions, which can affect the overall cost of transactions.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This ensures that the fees reflect the current market conditions as determined by the government.

Frequently asked questions

What is the current guideline value of Dr. Radhakrishnan 7th Street?

The current guideline value of Dr. Radhakrishnan 7th Street is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,380 per sq.ft in 2002 to Rs 16,500 per sq.ft in 2024, marking an overall increase of 1,096%.

What is the role of the Mylapore SRO?

The Mylapore SRO is responsible for maintaining the guideline values for properties in the area, including Dr. Radhakrishnan 7th Street, and facilitating property registrations.

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. This ensures that the fees reflect the true value of the property being transacted.

Where can I find more information about the SRO?

More information about the Sub Registrar Office can be found by visiting the find your SRO link.