Guideline Value for RADHAKRISHNA STREET

Radhakrishna Street guideline value

The current guideline value of Radhakrishna Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Radhakrishna Street has changed

The guideline value of Radhakrishna Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 529 per sq.ft, which increased to Rs 605 per sq.ft in 2003, marking a 14% rise. From 2003 to 2007, the value surged by 57%, reaching Rs 950 per sq.ft. The subsequent revision in 2012 saw the value increase to Rs 3,000 per sq.ft, reflecting a significant growth of 216% from 2007. However, this was followed by a decrease of 33% to Rs 2,010 per sq.ft in 2017.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has risen by 524% for Radhakrishna Street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO with guideline values for 2024 ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which indicates that Radhakrishna Street's 2024 figure is below the median.

• Raja Street: Rs 3,300 per sq.ft (2024)
• PONVIZHA NAGAR 5th STREET: Rs 4,400 per sq.ft (2024)
• PONVIZHA NAGAR 4th STREET: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Ponvizha Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishna Street

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. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Radhakrishna Street?

The Sub Registrar Office that covers Radhakrishna Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Villivakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately with the state authorities.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. The registration process relies on these values to maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Radhakrishna Street?

The current guideline value of Radhakrishna Street 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 significantly from Rs 529 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing a total increase of 524% over this period.

What is the land classification for Radhakrishna Street?

The land classification for Radhakrishna Street is Residential Class IV Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Radhakrishna Street?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. It serves as the registration office for properties in this area.

How is stamp duty calculated for properties in Radhakrishna Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 2,31,000.