Guideline Value for Dr. Radhakrishnan Road 1st Street

Dr. Radhakrishnan Road 1st Street guideline value

The current guideline value of Dr. Radhakrishnan Road 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Dr. Radhakrishnan Road 1st Street has changed

Looking at the revisions, the guideline value for Dr. Radhakrishnan Road 1st Street has seen several changes over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a 49% rise. The current value of Rs 2,700 per sq.ft in the 2024 revision reflects an 8% increase from the previous year’s value of Rs 2,500 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%, reaching the current figure of Rs 2,700 per sq.ft.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for the area is Rs 2,700 per sq.ft, which is the same as the current value for Dr. Radhakrishnan Road 1st Street.

• Dr. Radhakrishnan Road 2nd Street: Rs 2,700 per sq.ft (2024)
• Dr. M.A.M. Ramasamy Nagar (Thiruvalluvar Salai): Rs 2,700 per sq.ft (2024)
• Dr. Karunanethi Street: Rs 2,200 per sq.ft (2024)
• Dr. Anna Salai: Rs 2,200 per sq.ft (2024)
• D.R. Ambethkar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• East Avenue Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Radhakrishnan Road 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dr. Radhakrishnan Road 1st Street?

The Sub Registrar Office that covers Dr. Radhakrishnan Road 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Kodungaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a reference point for calculating applicable fees, including stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Dr. Radhakrishnan Road 1st Street?

The current guideline value of Dr. Radhakrishnan Road 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. The value rose from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, a 49% increase.

What is the land classification for Dr. Radhakrishnan Road 1st Street?

Dr. Radhakrishnan Road 1st Street is classified as Residential Class I Type - I.

Where can I find the registration office for this street?

The registration office covering Dr. Radhakrishnan Road 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees. It is essential for both buyers and sellers to be aware of this value to ensure a smooth transaction process.