Guideline Value for Radhakrishnan Street

Radhakrishnan Street guideline value

The current guideline value for Radhakrishnan Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Radhakrishnan Street has changed

The guideline value for Radhakrishnan Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 160 per sq.ft. This value increased to Rs 300 per sq.ft in 2003, marking an increase of 88%. The following revisions saw significant changes, with the value rising to Rs 1,000 per sq.ft in 2007, a 233% increase. In 2012, the value was recorded at Rs 2,500 per sq.ft, reflecting a 150% increase from the previous revision. However, this figure dropped to Rs 1,675 per sq.ft in 2017, representing a 33% decrease. The guideline value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,650%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Tharamani

In Tharamani village, there are 78 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value among these streets is Rs 2,800 per sq.ft, which is equal to the current guideline value for Radhakrishnan Street.

• Rajaji Street: Rs 2,800 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Ramar Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Ramar Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Perumal Koil Street: Rs 2,800 per sq.ft (2024)
• Periyar Street: Rs 3,300 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. 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 accurate calculations.

Which Sub Registrar Office covers Radhakrishnan Street?

The Sub Registrar Office that covers Radhakrishnan Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is in compliance with local regulations. This helps maintain transparency in property transactions within the area.

Frequently asked questions

What is the current guideline value of Radhakrishnan Street?

The current guideline value of Radhakrishnan Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,650% over the years.

What is the median guideline value in Tharamani?

The median guideline value in Tharamani is Rs 2,800 per sq.ft, which is the same as the current value for Radhakrishnan Street.

What are the stamp duty rates for property in Radhakrishnan Street?

The stamp duty for property in Radhakrishnan Street is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Radhakrishnan Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.