Guideline Value for RADHAKRISHNAN 1ST STREET

Radhakrishnan 1st Street guideline value

The current guideline value of Radhakrishnan 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Radhakrishnan 1st Street has changed

Over the years, the guideline value of Radhakrishnan 1st Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and finally, it has risen to Rs 1,320 per sq.ft in the 2024 revision.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 10%. Overall, comparing the figures from 2012 to 2024, there has been a net increase of 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, indicating that Radhakrishnan 1st Street's 2024 figure is below this median.

• Radhakrishnan 2nd Street: Rs 1,320 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Radhakrishnan Street: Rs 1,660 per sq.ft (2024)
• Raghavan Street: Rs 770 per sq.ft (2024)
• Raja Garden: Rs 1,660 per sq.ft (2024)
• Pour Garden All Phases: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radhakrishnan 1st Street?

The Sub Registrar Office that covers Radhakrishnan 1st 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. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vanagaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Radhakrishnan 1st Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Radhakrishnan 1st Street?

The land classification for Radhakrishnan 1st Street is Residential Class IV Type - II.

What are the stamp duty and registration fees for property in Radhakrishnan 1st Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which Sub Registrar Office covers Radhakrishnan 1st Street?

The Chennai South Joint I Sub Registrar Office covers Radhakrishnan 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.