Guideline Value for RADHAKRISHANAN STREET

Radhakrishanan Street guideline value

The current guideline value of Radhakrishanan Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and falls under the Residential Class IV Type - II land classification.

How the guideline value of Radhakrishanan Street has changed

Over the years, the guideline value of Radhakrishanan Street has seen significant changes. In 2007, the guideline value was Rs 700 per sq.ft. This figure increased to Rs 1,500 per sq.ft in 2012, marking a substantial growth of 114%. However, it then decreased to Rs 1,005 per sq.ft in 2017, which represented a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and subsequently increased to Rs 1,700 per sq.ft in 2024, reflecting a growth of 13% from the previous year. The register has no figure for this street for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, the increase was 49%. Overall, from 2007 to 2024, the guideline value has increased by 143%, showcasing the fluctuations in property valuation over the years.

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, with a median value of Rs 3,300 per sq.ft. Radhakrishanan Street's 2024 figure of Rs 1,700 per sq.ft is below this median.

• Radha Krishnan Road: Rs 1,700 per sq.ft (2024)
• Quaid Milleth Street: Rs 2,800 per sq.ft (2024)
• Quaid Milleth 2nd Street: Rs 2,800 per sq.ft (2024)
• Quaid Milleth 1st Street: Rs 2,800 per sq.ft (2024)
• Pushpa Avenue: Rs 3,300 per sq.ft (2024)
• P.R.S. Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Radhakrishanan Street?

The Sub Registrar Office that covers Radhakrishanan 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 information.

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

The guideline value plays a crucial role during property transactions in Palavakkam. It is utilized to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers must be aware of the guideline value as it directly impacts the overall cost of the transaction.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Radhakrishanan Street?

The current guideline value of Radhakrishanan Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 1,700 per sq.ft in 2024, showing an overall increase of 143% over the years.

What is the land classification for Radhakrishanan Street?

Radhakrishanan Street falls under the Residential Class IV Type - II land classification.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Radhakrishanan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,19,000.