Guideline Value for RADHAKRISHNAN STREET

Radhakrishnan Street guideline value

The current guideline value of Radhakrishnan Street is Rs 1,660 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 III Type - I.

How the guideline value of Radhakrishnan Street has changed

The guideline value for Radhakrishnan Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and further rose to Rs 1,660 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The changes between the revisions include a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the guideline value of Radhakrishnan Street for 2024.

• Radhakrishnan Nagar: Rs 1,320 per sq.ft (2024)
• Radhakrishnan 2nd Street: Rs 1,320 per sq.ft (2024)
• Radhakrishnan 1st Street: Rs 1,320 per sq.ft (2024)
• Raghavan Street: Rs 770 per sq.ft (2024)
• Raja Garden: Rs 1,660 per sq.ft (2024)
• Rajan Nagar Extn.: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishnan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,660 per sq.ft, the guideline value would be Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, totaling Rs 1,49,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Radhakrishnan Street?

The Sub Registrar Office that covers 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 Vanagaram

The guideline value is a crucial factor during the registration of property transactions in Vanagaram. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the official valuation of the property. This helps maintain transparency in property transactions and ensures that all legal requirements are met during the registration process.

Frequently asked questions

What is the current guideline value of Radhakrishnan Street?

The current guideline value of Radhakrishnan Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024.

What is the land classification for Radhakrishnan Street?

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

What are the other streets in Vanagaram and their guideline values?

Other streets in Vanagaram include Radhakrishnan Nagar, Radhakrishnan 2nd Street, Radhakrishnan 1st Street, Raghavan Street, Raja Garden, and Rajan Nagar Extn., with values ranging from Rs 770 to Rs 1,660 per sq.ft.

Where is the Sub Registrar Office located for Radhakrishnan Street?

The Sub Registrar Office for Radhakrishnan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.