Guideline Value for Radhakrishna St

Radhakrishna St guideline value

The current guideline value of Radhakrishna St is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Radhakrishna St has changed

Over the years, the guideline value of Radhakrishna St has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was later reduced to Rs 1,005 per sq.ft in 2017. Following that, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then further rose to Rs 1,650 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value for Radhakrishna St.

• Radha Avenue: Rs 1,100 per sq.ft (2024)
• Queen Elizabeth Street: Rs 1,100 per sq.ft (2024)
• Ragavendra Avenue: Rs 2,750 per sq.ft (2024)
• Puthther street: Rs 1,100 per sq.ft (2024)
• Ragavendra Road: Rs 3,300 per sq.ft (2024)
• Ragavenra salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Radhakrishna St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Radhakrishna St?

The Sub Registrar Office that covers Radhakrishna St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at fair values as per the government’s valuation.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Radhakrishna St?

The current guideline value of Radhakrishna St is Rs 1,650 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 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Radhakrishna St?

Radhakrishna St is classified as Residential Class I Type - III.

Where can I find the registration office for Radhakrishna St?

The registration office for Radhakrishna St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000.