Guideline Value for Radhakrishna Puram

Radhakrishna Puram guideline value

The current guideline value of Radhakrishna Puram is Rs 4,400 per sq.ft. This area is part of Mylapore Part 2 village, covered by 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 has changed

The guideline value for Radhakrishna Puram has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is an increase from Rs 4,000 per sq.ft in 2023. This change represents a 10% increase from the previous year. The register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last known value was Rs 4,000 per sq.ft. The revisions from earlier years do not have recorded figures for Radhakrishna Puram, indicating a lack of data for those periods. The current value is now established as Rs 4,400 per sq.ft starting from 1 July 2024.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Radhakrishna Puram's 2024 figure below that median.

• Radhakrishna Puram Street: Rs 4,400 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)
• Pudupet Garden Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishna Puram

For a property measuring 1,000 sq.ft 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, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Radhakrishna Puram?

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

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official value set by the authorities. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Radhakrishna Puram?

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

How has the guideline value changed over the years?

The guideline value increased from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification for Radhakrishna Puram?

Radhakrishna Puram is classified as Residential Class IV Type - I. This classification indicates the type of development permitted in the area.

What are the stamp duty and registration fees for a property in Radhakrishna Puram?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Radhakrishna Puram located?

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