Guideline Value for Radhakrishna Puram Street

Radhakrishna Puram Street guideline value

The current guideline value of Radhakrishna Puram Street is Rs 4,400 per sq.ft. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Radhakrishna Puram Street has changed

The guideline value register shows that there are no figures for Radhakrishna Puram Street for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 4,000 per sq.ft. Following this, the 2024 revision increased the guideline value to Rs 4,400 per sq.ft, reflecting a change of +10% from the previous year.

In summary, the guideline value for Radhakrishna Puram Street has seen a rise from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. This increase is part of the overall adjustments made in the guideline values for various streets in Mylapore Part 1.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Radhakrishna Puram Street's 2024 figure below the median.

• Radhakrishna Puram: Rs 4,400 per sq.ft (2024)
• Pycrofts Nagar 1st Lane: Rs 13,200 per sq.ft (2024)
• Pycrofts Nagar: Rs 13,200 per sq.ft (2024)
• Raghava Veera Avenue: Rs 17,500 per sq.ft (2024)
• Purupettai Sardar Lane: Rs 7,700 per sq.ft (2024)
• Pudu Street: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishna Puram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Radhakrishna Puram Street?

The Sub Registrar Office that covers Radhakrishna Puram Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in property transactions, as it determines the minimum value on which stamp duty is calculated. When buying or selling property in Mylapore Part 1, the guideline value serves as a reference point for both parties involved in the transaction.

During the registration process, the guideline value is used to assess the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Radhakrishna Puram Street?

The current guideline value of Radhakrishna Puram Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024.

What is the land classification for Radhakrishna Puram Street?

Radhakrishna Puram Street is classified as Residential Class IV Type - I.

Which office handles registrations for properties in Radhakrishna Puram Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for properties in Radhakrishna Puram Street, located at No.182 Bharati Salai (Pycrofts Road), Royapettah, Chennai-600014.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable on the same basis.