Guideline Value for DR. RADHAKRISHNAN STREET

Dr. Radhakrishnan Street guideline value

The current guideline value of Dr. Radhakrishnan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Dr. Radhakrishnan Street has changed

The guideline value for Dr. Radhakrishnan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The significant changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Dr. Radhakrishnan Street.

• Dr. Rajendraprasad Street: Rs 1,320 per sq.ft (2024)
• Dr. Ramadas Street: Rs 1,320 per sq.ft (2024)
• Erikarai Street: Rs 1,320 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 1,320 per sq.ft (2024)
• Ex-Serviceman Colony 2nd Street: Rs 1,650 per sq.ft (2024)
• Ex-Serviceman Colony 3rd Street: Rs 1,650 per sq.ft (2024)

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

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 at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Dr. Radhakrishnan Street?

The Sub Registrar Office that covers Dr. Radhakrishnan Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Jelandianpettai. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay during the registration process.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from property transactions. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Dr. Radhakrishnan Street 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Dr. Radhakrishnan Street?

Dr. Radhakrishnan Street is classified as Residential Class II Type - I.

Which office handles registrations for this street?

The Chennai South Joint I Sub Registrar Office handles registrations for Dr. Radhakrishnan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Jelandianpettai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 2,200 per sq.ft would incur a total guideline value of Rs 22,00,000.