Guideline Value for Dr. Radhakrishnan Road

Dr. Radhakrishnan Road guideline value

The current guideline value of Dr. Radhakrishnan Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village, under the Madhavaram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Dr. Radhakrishnan Road has changed

The guideline value for Dr. Radhakrishnan Road has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a guideline value for 2024 ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Dr. Radhakrishnan Road's 2024 figure above that median.

• Dr. Ambedkar Street / Road: Rs 2,200 per sq.ft (2024)
• Easwari Street: Rs 2,200 per sq.ft (2024)
• Elango Street: Rs 3,000 per sq.ft (2024)
• Erukancherry High Road: Rs 3,800 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,500 per sq.ft (2024)
• Eswari Nagar: Rs 2,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dr. Radhakrishnan Road?

The Sub Registrar Office that covers Dr. Radhakrishnan Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers need to pay during the property registration process.

When buying or selling property, it's essential to understand that the guideline value is not just a reference point but also affects the financial obligations of both parties involved in the transaction. Buyers should be aware of the current guideline value to ensure they are making informed decisions.

Frequently asked questions

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

The current guideline value of Dr. Radhakrishnan Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Dr. Radhakrishnan Road?

Dr. Radhakrishnan Road is classified as Commercial Class I Type - I.

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

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, and the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 2,97,000 in fees.

Where can I find the Sub Registrar Office for Dr. Radhakrishnan Road?

The Madhavaram Sub Registrar Office covers Dr. Radhakrishnan Road and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.