Guideline Value for RADHAKRISHNAN AVENUE

Radhakrishnan Avenue guideline value

The current guideline value of Radhakrishnan Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - III.

How the guideline value of Radhakrishnan Avenue has changed

Starting from the 2007 revision, the guideline value was Rs 400 per sq.ft. It increased significantly to Rs 1,200 per sq.ft in 2012, marking a 200% rise. However, there was a decrease to Rs 804 per sq.ft in 2017, reflecting a drop of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,300 per sq.ft in 2024, which is an 8% change from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 225%. The changes between the revisions highlight the fluctuations in property values over the years, with the most significant increase occurring between 2007 and 2012.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. Radhakrishnan Avenue's current guideline value is below this median.

• Radhakrishnan Nagar: Rs 3,300 per sq.ft (2024)
• Radiance Prosper: Rs 7,463 per sq.ft (2024)
• Railway Station Road: Rs 2,800 per sq.ft (2024)
• Pudhiya Kinaru Street: Rs 3,300 per sq.ft (2024)
• Poonthottam Lane: Rs 3,300 per sq.ft (2024)
• Poonganva Puram: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Radhakrishnan Avenue?

The Sub Registrar Office that covers Radhakrishnan Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruvottiyur. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall costs associated with property transactions. The values are periodically revised, reflecting changes in the real estate market and ensuring that they remain relevant for legal and financial purposes.

Frequently asked questions

What is the current guideline value of Radhakrishnan Avenue?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, showing a significant increase of 225% over the years.

What is the land classification for Radhakrishnan Avenue?

Radhakrishnan Avenue is classified as Residential Class II Type - III, which is relevant for determining its guideline value and usage.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated on properties in Thiruvottiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.