Guideline Value for RADHAKRISHNAN STREET

Radhakrishnan Street guideline value

The current guideline value of Radhakrishnan Street in Medavakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Radhakrishnan Street has changed

The guideline value for Radhakrishnan Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. Subsequently, the value increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The guideline value saw an increase of 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value. The values range from Rs 1,540 to Rs 7,500 per sq.ft, with the median being Rs 2,200 per sq.ft. Radhakrishnan Street's 2024 guideline value matches this median.

• Ragamaliga Apartment Part -1: Rs 4,950 per sq.ft (2024)
• Ragamaliga Apartment Part -2: Rs 4,950 per sq.ft (2024)
• Ragamaliga Apartment Part -3: Rs 4,950 per sq.ft (2024)
• Pushpa Nagar Vinodh Street: Rs 2,750 per sq.ft (2024)
• Pushpa Nagar Shanthi Street: Rs 2,750 per sq.ft (2024)
• Pushpa Nagar Santhanam Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Radhakrishnan Street?

The Sub Registrar Office covering Radhakrishnan 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 Medavakkam

The guideline value is a crucial factor when registering property transactions in Medavakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

Frequently asked questions

What is the current guideline value of Radhakrishnan Street?

The current guideline value of Radhakrishnan Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Radhakrishnan Street?

Radhakrishnan Street is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Radhakrishnan 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.

How is the stamp duty calculated for properties in Radhakrishnan 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 Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000.